Jan 23, 01:04 PM

Phantom's Ron McKown Defends Wallet Security; User Funds Never at Risk Amid Phemex's $37 Million Breach Investigation

Phantom has responded to recent allegations regarding a vulnerability that purportedly endangered user funds. The company’s security chief, Ron McKown, stated that user funds were never at risk. Despite this assurance, some users have expressed concerns, with one claiming to have lost all their Solana wallets and labeling Phantom as a dangerous product. In a related incident, Phemex has confirmed an investigation into a recent breach that resulted in a $37 million loss from its hot wallet. The CEO of Phemex assured users that their cold wallets remain safe and announced a compensation plan for affected users. Phantom reiterated its commitment to security, emphasizing that all wallets and private keys are secure, and encouraged security researchers to report vulnerabilities through its bug bounty program.

#Phantom #Ron McKown #Solana #Phemex

Written with ChatGPT (GPT-4o mini).

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