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Phantom Wallet's recent iOS update caused some users to experience app resets and get logged out, resulting in loss of access to their wallets if they did not have their recovery phrases backed up. One user claimed to have lost up to $1 million due to the issue. The company acknowledged that a small number of iOS users were affected, apologized, and released a new update to prevent further occurrences. Phantom indicated it cannot recover funds for affected users. Users are advised to back up their seed phrases and update the app to restore access to their wallets.
did not realize crypto equities got nuked so hard yesterday
🔐 The @phantom team behind the #Solana wallet confirmed that yesterday's iOS app update required users to re-enter their seed phrase after a reset. This could potentially result in loss of access to assets if users did not back up their recovery phrases. The developers have… https://t.co/llxl6FDIdC
PHANTOM WALLET BUG UNDERSCORES RISKS Phantom’s recent iOS bug reset wallets, leaving those without backed-up seed phrases stranded—highlighting the criticality of safeguarding recovery phrases, especially with non-custodial wallets. While Phantom pushed a swift update, the… https://t.co/lDPFCLKYXY
