365Crypto
Scam Alert: Phantom Wallet Users at Risk
- Scammers are targeting users of the Solana-based Phantom wallet by tricking them into revealing private keys.
- Fake update pop-ups appear, mimicking legitimate Phantom requests, urging users to sign a fraudulent extension update.
How the Scam Works
- Attackers connect to real Phantom wallets and send fake update prompts.
- If users approve the request, they are asked to enter their seed phrase, which grants scammers full access to their funds.
- These phishing pop-ups closely resemble Phantom’s actual interface, making them difficult to detect.
How to Stay Safe
- Avoid entering your seed phrase on any pop-up or website claiming to be Phantom.
- Right-click to verify: Phishing sites often disable right-clicking, while genuine Phantom pop-ups do not.
- Check the URL: Real Phantom extensions include “chrome-extension” in the address, which fake pages cannot replicate.
- Look for system behavior: Phantom’s authentic pop-ups can be minimized, maximized, and resized, while fake ones are stuck inside a browser tab.
Rising Popularity and Growing Risks
- Phantom wallet usage has surged due to the growing popularity of Solana-based memecoins.
- The platform recorded a daily revenue peak of $3.6 million on January 19 and now generates around $470,000 per day.
- Phantom has surpassed 10 million monthly active users and facilitated over 850 million transactions in 2024.
- On February 6, it introduced multicurrency support in 16 different currencies.
Phantom’s Recent Growth and Security Measures
- In January, Phantom raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, valuing the company at $3 billion.
- Despite rumors of an upcoming token airdrop, Phantom denied any plans to release one alongside its new social discovery feature.
