Phantom Addresses Security Concerns Amid Criticism

According to Odaily, the cryptocurrency wallet Phantom has addressed recent security concerns, stating that a reported vulnerability does not pose a risk to user funds. This statement comes after security researcher @CloakdDev criticized the platform. Phantom apologized for communication delays and reiterated its commitment to security, asserting that user funds are not threatened. However, the company did not provide further technical details or a timeline for any potential actions. Similarly, Cloakd did not offer technical specifics about the alleged vulnerability. On January 21, Cloakd expressed disappointment with Phantom's response and initiated a discussion on social media platform X. The researcher remarked, "This has become a joke—I can't even get updates from their security team." Cloakd highlighted concerns over the delay, considering Phantom's scale and reach. Following Phantom's response, Cloakd countered the wallet's claims, asserting that the vulnerability "directly puts user funds at risk." The researcher advised Phantom users to take precautions, such as backing up their seed phrases and considering alternative wallets.