Phantom, the popular crypto wallet provider for Solana, has issued an emergency update for iOS users after some reported that their app reset, locking them out of their wallets.
The company confirmed the issue on X (formerly Twitter) on November 14 and advised users affected by the reset to restore their wallets using their recovery phrases.
The update has been rolled out to prevent further disruptions. Phantom apologized for the inconvenience and reminded users to securely store their seed phrases to avoid losing access to their funds in the future. “We’re committed to making sure this won’t happen again,” Phantom stated.
Some users took to social media to report losing funds after the app reset. One user claimed to have lost 983 SOL, while another said they lost their wallet containing $600K in assets. Others also expressed frustration over their wallets being wiped after updating the app.
As a non-custodial wallet, Phantom cannot assist users who lose their seed phrases, as it does not store them. However, users who experience issues can contact Phantom’s support team for further help.
This isn’t the first time Phantom has faced problems. In October, users experienced incorrect balances due to a temporary service disruption. Phantom fixed the issue within a few hours.
For users with Phantom wallets, it’s crucial to back up recovery phrases and proceed cautiously with updates to prevent losing access to their assets.
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