๐จ ๐๐๐ฆ๐ ๐๐จ๐ข๐ง ๐๐๐ฏ ๐๐จ๐ฌ๐๐ฌ $๐๐๐๐ ๐ญ๐จ ๐๐๐ฅ๐ฅ๐๐ญ ๐๐๐๐ค โ ๐๐ฎ๐๐ฌ ๐๐จ๐ซ $๐.๐๐ ๐จ
Phantom Wallet, a popular crypto wallet on the Solana network, is facing a big lawsuit after a hacker reportedly stole over $500,000 worth of meme coins from a developer. The victims are now asking for $3.1 million in damages.
โค What Happened?
A hacker got into the computer of Liam Murphy, a crypto developer and lawyer.
They grabbed his Phantom wallet keys from the browser and stole everything โ without needing 2FA or extra passwords.
โค Why Are They Blaming ?
The lawsuit claims Phantom stored private keys in an unsafe way โ inside unencrypted browser memory.
This made it easy for malware to steal the wallet keys.
Phantom advertised itself as having โbest-in-class security,โ but the victims say it was badly designed and unsafe.
โค Phantom's Response:
Phantom says:
โก๏ธ Itโs a non-custodial wallet, meaning users control their own keys
โก๏ธ Users must stay alert and avoid scams
โก๏ธ They deny all wrongdoing and will fight the lawsuit
โค Huge Loss to the Project
The hacker used Phantomโs built-in Swapper tool to sell $500K of Wiener Doge (WIENER) for just $37K.
This crashed the token's value and destroyed the entire project, which once had a market cap of $3.1 million.
โค OKX Also Named in Lawsuit
OKX, Phantomโs partner exchange, was also mentioned.
The lawsuit claims Phantom failed to reveal its links with OKX, which had past issues involving money laundering.
๐๐จ๐ญ๐ญ๐จ๐ฆ ๐๐ข๐ง๐:
The victims say Phantomโs poor design made it easy for hackers to strike.
Phantom says users are responsible for protecting their keys.
The court will now decide whoโs right.
Whatโs your take? Should wallet apps be held responsible for security flaws?
