A fake Phantom Wallet app on the iOS App Store has been reported to drain user funds. The fraudulent app closely mimics the authentic Phantom Wallet, leading to significant financial losses for users. The scam involves deceiving users into revealing their private keys, which are then used to drain assets upon account recovery. This issue, reported on June 28, has raised urgent warnings within the crypto community, highlighting the need for increased vigilance when downloading wallet applications from the Apple Store.