On February 12, the Phantom wallet, one of the most popular multi-chain non-custodial wallets on Solana, experienced a short-term service interruption. The Phantom team quickly announced on X, confirming the incident and urging the community to be patient while engineers work on the fix.
However, the issue was resolved quickly, and the Phantom team stated that all services were back up and running, and committed to taking measures to prevent similar incidents in the future.
Although this incident was dealt with in a timely manner, this is not the first time Phantom has experienced downtime. Previously, in October 2023, Phantom reported an uptime incident that caused some services to be disrupted, coinciding with the time of the airdrop of Grass, an AI platform on Solana.
The grass airdrop once caused the Phantom to be temporarily interrupted. Source: X Phantom
In November 2024, the Phantom wallet again encountered an update error on the iOS operating system, causing many users to be locked out of their accounts due to constant resets and unable to access the wallet until the error was fixed.
Besides technical problems, Phantom has also become a target of phishing attacks. Earlier this month, Web3 security platform Scam Sniffer warned that hackers had attempted to insert fake pop-ups into Phantom Wallet to steal users' seed phrases. Thankfully, Phantom quickly discovered and patched this vulnerability, protecting assets for users.
Phantom user data in 2024. Source: Phantom
Despite facing many security and technical challenges, Phantom continues to expand its ecosystem. Originally launched in 2021 with exclusive support for Solana, Phantom has now expanded to Sui and Base, an Ethereum layer 2 network. Currently, the last blockchain that Phantom is expected to support in 2025 is Monad.
In 2024, Phantom has more than 10 million users per month and a total of 850 million transactions created using Phantom.
Phantom will support Monad in the future.
Not only does it support the new blockchain, Phantom has now added a multi-currency feature, allowing users to view balances in 16 different currencies. With these steps, Phantom still maintains its position as one of the leading Web3 wallets in the market.
In 2024, Phantom has more than 10 million users per month and a total of 850 million transactions created using Phantom.
