New iOS Update Causes Phantom Wallet Users To Lose Recovery Phrases

Phantom, the company behind the widely used Solana wallet, recently issued a warning to iOS users after a new app update caused a significant issue for some. Certain users found themselves logged out of the Phantom app and unable to access their wallets after updating to the latest version.

Damage Control

The problem appears to be isolated to iOS users, and specifically impacts those who had not backed up their recovery phrase, also known as the seed phrase. A recovery phrase is crucial for wallet security, as it allows users to restore their wallets and access their funds in case of app issues or device loss.

For those affected by the recent bug, if the recovery phrase was not saved beforehand, it would be impossible to recover the wallet or its contents. Phantom clarified that there is no way for the company to help users recover lost funds in such cases, emphasizing the importance of backing up this critical information. They also urged affected users to contact their support team for further assistance, though recovery options would still be limited without the proper backups.

Not The First Time

This update issue marks the second significant technical problem that Phantom users have faced in the past month. Just weeks earlier, in late October, a glitch within the Phantom app and its browser extension caused a discrepancy in account balances, leaving users concerned about their funds. Phantom has not yet provided an explanation for the cause of the reset issue with the recent update, but they did remind users to always securely store their recovery phrases, as this is a fundamental security precaution for protecting their digital assets.

In light of these ongoing technical difficulties, Phantom has emphasized that maintaining a backup of recovery phrases is one of the most important steps users can take to ensure the security and recoverability of their wallets. Despite these challenges, the company is working to address the issues and provide further guidance to users who may be impacted.