Key Takeaways:
- Scam Alert: Cybercriminals are tricking Phantom wallet users with fake update pop-ups to steal private keys.
- Phishing Tactics: Malicious pop-ups mimic Phantom’s interface, prompting users to enter seed phrases on fraudulent sites.
- Phantom’s Growth: The wallet now has 10M+ monthly users, recently added multicurrency support, and saw a record $3.6M daily revenue.
Scammers are targeting Phantom wallet users with fake update pop-ups to steal private keys.
Web3 security firm Scam Sniffer warned that cybercriminals trick users into signing fraudulent “update extension” requests.
🚨 UPDATE: Sophisticated Seed Phrase Phishing Tactic!
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) February 6, 2025
Scammers now connect to REAL Phantom wallets first, then trick users with a fake "update extension" signature request. After approval, a FAKE modal appears demanding seed phrases.
⚠️ REMEMBER: NEVER enter seed phrases… https://t.co/Nvq3qxySa0 pic.twitter.com/aYwJgGNsqB
Once approved, a second prompt asks for the seed phrase, allowing scammers full access to the wallet and its funds.
These malicious pop-ups closely resemble Phantom’s interface, making them difficult to detect.
Similar phishing attacks were reported in January, where fake pop-ups on fraudulent websites asked users to input their seed phrase.
Scam Sniffer advised users to right-click the pop-up—genuine Phantom pop-ups allow this action, while phishing pages typically block it.
Additionally, real Phantom pop-ups include “chrome-extension” in their URLs and function as system windows, while fake ones remain trapped inside the browser tab.
Phantom wallet’s popularity has surged with the rise of Solana-based memecoins.
On Feb. 6, Phantom processed $470,000 in fee revenue, surpassing Coinbase Wallet, with a record $3.6 million in daily revenue on Jan. 19.
The platform now supports 16 currencies, has over 10 million monthly users, and has facilitated 850 million transactions in 2024.
The company raised $150 million in January, reaching a $3 billion valuation.
About The Author
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