Cryptocurrency enthusiasts using the popular Solana-based Phantom wallet should be on guard, as phishing scammers have turned their attention to this platform. Deceitful actors are reportedly attempting to obtain users’ private keys through falsified update requests disguised as legitimate pop-ups.
This advisory was issued by Scam Sniffer, a Web3 scam detection platform that recently posted about the issue. According to Scam Sniffer, these cyber criminals connect with authentic Phantom wallets and trick users into accepting a dubious “update extension” signature request. Once the victim approves the request, a message prompting them to enter their seed phrase appears. Entry of this phrase leaves the wallet vulnerable, allowing scammers complete control to sweep it clean.
Scam Sniffer has offered some tips to avoid falling victim to such malicious attacks. They suggest users should right-click on links to verify their authenticity, as phishing pages often block this action while genuine Phantom wallet windows don’t. Additionally, users should pay attention to the URL – genuine Phantom pop-ups have “chrome-extension” included in the link which scam web pages can’t replicate.
Phantom’s popularity among crypto users has surged in recent times, particularly due to the growing trend of Solana-based memecoins. Comparatively earning more 24-hour revenue from fees than Coinbase Wallet, Phantom’s daily revenue hit a historic high of $3.6 million on Jan. 19. The platform boasts of exceeding 10 million active monthly users and over 850 million total transactions in 2024. It also recently launched multicurrency support in 16 different currencies.
However, amidst all the positive strides, Phantom had to quash rumors of launching a token airdrop to supplement its forthcoming social discovery feature at the start of the month.