Phantom wallet service outage… “Balance display error, assets are safe”

Phantom, a virtual-asset (cryptocurrency) wallet service, suffered a temporary service disruption, causing confusion among users.

According to The Block on the 6th (local time), Phantom said in a notice that problems had occurred with token price and balance display functions and that work is currently under way to restore them. As of 9:57 p.m. that day, however, no further updates had been issued.

The disruption reportedly led some users to see their balances disappear or prices displayed as if they had plunged. On social media platform X, cases claiming actual asset losses continued to emerge, with some users even calling for compensation.

Some users said the outage made it impossible to sell, resulting in losses. Phantom, however, said regarding these claims that “there is only an issue with token price updates, and user assets are safe.”

In the industry, the view is that the incident likely stems not from a problem with the on-chain assets themselves but from a front-end or data-integration error. Still, concerns are growing that prolonged restoration could amplify user anxiety, underscoring the need for a swift determination of the cause and additional updates.