Phantom, the leading cryptocurrency wallet on Solana’s blockchain, has stated that an alleged vulnerability is not a threat to users funds. This statement follows criticism by a security researcher called @CloakdDev.
Phantom has apologized publicly for the communication delay and reiterated its commitment to security. It also said:
“We believe it does NOT make user funds vulnerable in any way.”
Phantom has not provided any further details, nor a timetable for possible action. Cloakd, too, has not provided any technical information about this alleged vulnerability.
There is no dispute
The dispute became public on social media on Jan. 21 after Cloakd expressed frustration with Phantom’s response. According to a Facebook post, this research was conducted:
“At this point, it’s becoming a joke – I can’t even get a response from their security team in terms of an update.”
The researcher characterized the delay as concerning for a platform of Phantom’s scale and reach.
Following Phantom’s response, Cloakd countered the wallet’s claim, asserting that the vulnerability “directly puts user funds at risk.”
Phantom users were urged to be cautious, backing up seed phrases as well as considering other wallets.
This researcher has advised:
“Move to a different wallet as they clearly don’t take user security seriously – painfully obvious from this exercise.”
Many users are concerned about the situation, and many have asked how wallet providers can balance security with transparency. Cloakd provided advice to some members of the community on how they could protect themselves and the value of their wallets.
Cloakd’s recommendation to migrate to other wallets reflects growing dissatisfaction with how the issue has been handled.
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