Phantom, a Solana on-chain crypto wallet, is under scrutiny following allegations by security researcher @CloakdDev about a vulnerability potentially endangering user funds. Phantom has publicly stated that the vulnerability does not threaten user funds and apologized for delayed communication. However, they have not provided technical details or a timeline for countermeasures. Cloakd criticized Phantom's response, urging users to take precautions and consider changing wallets. The incident has raised concerns about the balance between transparency and security among wallet providers, with users seeking advice on asset protection.

PANews reported on January 22 that according to Cryptoslate, under the criticism of security researcher @CloakdDev, Solana on-chain crypto wallet Phantom responded that a recently exposed vulnerability does not threaten the security of user funds. In a public statement, Phantom apologized for the delay in communication and reiterated its commitment to security, saying: "We are sure that this vulnerability will not endanger user funds in any way." However, Phantom did not provide more technical details or a timeline for potential countermeasures. Similarly, Cloakd did not disclose specific technical information about the vulnerability.
 The controversy broke out on social media on January 21, with Cloakd expressing dissatisfaction with Phantom's response, saying: "It's a joke until now, I can't even get any updates from their security team." Cloakd believes that for a large platform like Phantom, this delay is very worrying. In response to Phantom's response, Cloakd countered that the vulnerability "directly threatens the security of user funds." They recommend that Phantom users take precautions such as backing up mnemonics and considering changing wallets.
 This incident has caused widespread concern among users, and many people have questioned how wallet providers can balance transparency and security. Some community members have sought advice from Cloakd to understand the extent of the risk and how to protect their assets. Cloakd recommends that users consider migrating to other wallets.

Phantom Wallet Faces Security Allegations Amid User Concerns