The post Phantom Wallet Addresses iOS App Reset Issues Following Solana Users’ Loss of Access and Funds appeared on BitcoinEthereumNews.com.

The recent emergency update from Phantom, a leading Solana wallet provider, highlights significant ongoing issues amidst user reports of wallet resets and lost access. Despite the latest patch, many users remain vulnerable, especially those who failed to secure their recovery phrases, raising concerns about the reliability of non-custodial wallets. As stated by Phantom, “We’re aware that a small number of iOS users are experiencing app resets,” indicating the company’s commitment to addressing these technical difficulties. Phantom wallet issues raise concerns over app reliability as users report lost access. Emergency updates issued after numerous complaints from the community. Phantom Wallet Issues: Users Locked Out After Latest Update Recently, the Phantom wallet, known for its integration with the Solana blockchain, faced serious user backlash following an automatic app reset that left many without access to their funds. Reports indicate that some iOS users experienced unexpected application resets, effectively locking them out of their wallets unless they had their **recovery phrases** handy. In response to these incidents, the organization rapidly deployed an emergency update aimed at preventing further occurrences. User Reactions and Financial Impact on the Community Following the app reset, a wave of distress rippled through the Phantom user base. Numerous users took to social media platforms, specifically X (formerly Twitter), to express their frustrations. One user poignantly shared, “I lost my 983 SOL, please send it back,” while another lamented, “I just lost my wallet holding $600K, this is my life’s worth/savings.” The issues surrounding non-custodial wallets, where users maintain sole control over their keys, became increasingly evident as individuals disclosed they had not backed up their **seed phrases**. Continuing Challenges for Phantom and Non-Custodial Wallets Phantom’s issues are not isolated; they reflect broader challenges within the **non-custodial wallet** framework. The company was previously scrutinized in October when many users reported…

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Filed under: News - @ November 14, 2024 4:25 am