Phantom Wallet has advised users that the most recent update may result in app resets, which could require them to enter into their accounts using their recovery phrases.
Phantom, a cryptocurrency wallet service provider, has informed iOS Phantom wallet account holders that the application may undergo an app reset in response to the most recent update. Phantom stated that the update results in app resets that urge users to enter into their accounts using recovery phrases. Users who failed to save their recovery phrases may experience a loss of access to their funds.
Phantom, a non-custodial wallet service provider based in Solana, has encountered an increase in controversy as a result of a recent update to its iOS application. Phantom wallet holders using the iOS operating system were informed by the crypto wallet firm that the most recent update to the app results in app resets, which result in the user being logged out of their accounts. In order to regain access to their funds, users must utilize their wallet recovery phrases to enter into their accounts.
Phantom has released a new iOS update to prevent the app resets from affecting more users. The company also advised users to back up their recovery phrases in a secure, accessible location. They also advised the afflicted users to utilize their recovery phrases to enter into their accounts and regain access.
On Wednesday, social media posts highlighted reports from a small number of iOS users who claimed that they encountered difficulties with the Phantom wallet after installing the updated version.
In an X post that has since been deleted, a specific user stated that they had lost $1 million in POPCAT after being logged out of their wallets and losing control to all of their funds.
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