šØ ššš¦š ššØš¢š§ šššÆ ššØš¬šš¬ $šššš ššØ ššš„š„šš šššš¤ ā šš®šš¬ ššØš« $š.šš šØ
Phantom Wallet, a popular crypto wallet on the Solana network, is facing a big lawsuit after a hacker reportedly stole over $500,000 worth of meme coins from a developer. The victims are now asking for $3.1 million in damages.
⤠What Happened?
A hacker got into the computer of Liam Murphy, a crypto developer and lawyer.
They grabbed his Phantom wallet keys from the browser and stole everything ā without needing 2FA or extra passwords.
⤠Why Are They Blaming ?
The lawsuit claims Phantom stored private keys in an unsafe way ā inside unencrypted browser memory.
This made it easy for malware to steal the wallet keys.
Phantom advertised itself as having ābest-in-class security,ā but the victims say it was badly designed and unsafe.
⤠Phantom's Response:
Phantom says:
ā”ļø Itās a non-custodial wallet, meaning users control their own keys
ā”ļø Users must stay alert and avoid scams
ā”ļø They deny all wrongdoing and will fight the lawsuit
⤠Huge Loss to the Project
The hacker used Phantomās built-in Swapper tool to sell $500K of Wiener Doge (WIENER) for just $37K.
This crashed the token's value and destroyed the entire project, which once had a market cap of $3.1 million.
⤠OKX Also Named in Lawsuit
OKX, Phantomās partner exchange, was also mentioned.
The lawsuit claims Phantom failed to reveal its links with OKX, which had past issues involving money laundering.
ššØšššØš¦ šš¢š§š:
The victims say Phantomās poor design made it easy for hackers to strike.
Phantom says users are responsible for protecting their keys.
The court will now decide whoās right.
Whatās your take? Should wallet apps be held responsible for security flaws?
#Phantom $SOL