Phantom Wallet Users Targeted by Phishing Scams

Phishing Scams Target Phantom Wallet Users

Phishing scammers are targeting users of the Solana-based Phantom crypto wallet with fake update prompts designed to steal private keys. These scams trick users into approving malicious signature requests, which then prompt them to enter their seed phrase. If successful, scammers gain full access to the wallet, enabling them to drain its funds.

How to Identify and Avoid Phantom Wallet Scams

To combat these phishing attempts, users can take several precautions. Right-clicking on pop-up links can help identify legitimate windows, as genuine Phantom wallet windows do not block this function. Additionally, verifying the URL is crucial, as authentic Phantom pop-ups include "chrome-extension in the link, which scam pages cannot replicate.

Phantom Wallet's Recent Success and Milestones

Despite these security challenges, the Phantom wallet has seen significant growth. Its 24-hour revenue from fees recently surpassed $470,000, outperforming even major wallets like Coinbase Wallet. The platform has also achieved notable milestones, including over 10 million monthly active users and more than 850 million total transactions in 2024.

New Features and Funding

Phantom recently introduced multicurrency support for 16 different currencies, further enhancing its appeal. On January 17, the company completed a $150 million Series C funding round led by Sequoia Capital and Paradigm, bringing its valuation to $3 billion. Phantom also clarified rumors about a token airdrop associated with its upcoming social discovery feature, confirming no such plans.

By staying vigilant and informed, Phantom users can protect their assets while enjoying the wallet's growing features and capabilities.