Solana-based Phantom wallet suffers temporary outage and recovers swiftly
Phantom wallet suffers temporary outage
Phantom, the widely used non-custodial multi-chain crypto wallet, experienced a temporary service outage on February 12, briefly preventing users from accessing their assets.
The Phantom team acknowledged the issue in a statement on X, assuring the community that developers were actively working on a fix, according to Crypto News.
The disruption was swiftly addressed, and Phantom later confirmed that all services had been restored. “All services are back up. We apologize for the downtime. We understand how important it is to access your assets and are taking steps to prevent future outages,” the team stated.
A Pattern of Service Interruptions
While the outage was short-lived, it is the latest in a series of technical issues that have affected Phantom in recent months. In October 2023, an “uptime incident” temporarily disrupted services during the airdrop of Grass, a Solana-based AI project. A month later, a software update in November 2024 caused repeated resets for iOS users, locking them out of their accounts.
More recently, Web3 security firm Scam Sniffer identified a phishing threat targeting Phantom users. The scam involved fake pop-ups designed to steal seed phrases, but Phantom quickly patched the vulnerability.
Originally launched in 2021 as a Solana-only wallet, Phantom has since expanded to support multiple blockchains, including Sui and Base, an Ethereum layer-2 network. The wallet now also offers multi-currency support, allowing users to view balances in 16 different currencies.
As Web3 adoption grows, maintaining reliable service will be crucial for Phantom. While the wallet’s swift response to outages is reassuring, its track record of recurring disruptions underscores the need for long-term stability measures.
JPMorgan Managing Director Nikolaos Panigirtzoglou said recently that he has been skeptical about short-term ETF approvals for Solana, XRP, and other cryptocurrencies. However, the new leadership at the SEC under Trump could pave the way, with Solana and XRP-based ETFs potentially attracting $14 billion in their first year.
