Beware: Fake Pop-Ups Target Phantom Wallet Users

Scammers are using fake pop-ups to trick Phantom Wallet users into revealing their seed phrases, risking asset theft and fraud.

Cryptocurrency scammers are targeting Phantom Wallet users with fraudulent pop-ups that appear to be real update requests.

Scam Sniffer, a Web3 security outfit, reports that phishing criminals are luring. Users into signing false “update extension” requests to deplete Phantom Wallets. Once authorized, the pop-up encourages customers to input their seed word. Which, if given, allows fraudsters complete access to their assets.

Scam Sniffer recommended users not to share their seed phrases and to only update extensions through the Chrome online store.

Previously, such popups were restricted to rogue websites that mimicked Phantom’s UI. Scammers are now linked to actual Phantom wallets, making their assaults considerably financially plausible.

One technique to detect these bogus pop-ups is to examine how the window acts. Real Phantom wallet pop-ups behave like system windows, which may be minimized, maximized, and resized. However, fake ones remain inside the browser tab.

Another approach is to try right-clicking on the link, as phishing pages often deactivate. This capability to prevent people from analyzing URLs, although legitimate Phantom pop-ups do not.

Phantom users have increasingly encountered more than simply phishing attempts. A recent iOS version had a serious flaw that reset wallets and locked users out. Requiring them to re-enter their recovery passphrase. While the problem was eventually resolved several users who lost access to their assets expressed worries about. The hazards of unanticipated interruptions in non-custodial wallets.

Phantom, first launched in 2021 as a Solana wallet, has subsequently expanded to other chains. Such as Ethereum layer 2 Base and layer 1 network Sui.

Last month, the business secured $150 million. In a Series C investment led by venture capitalists Sequoia Capital, Paradigm, and a16z Crypto.

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