A fake Phantom wallet app has been causing financial losses among users, with reports of assets being drained upon account recovery with a private key. The fraudulent app, which mimics the legitimate Phantom Wallet, has poor reviews and is published by Meta Voxify. Despite its low ratings, the fake app is still live in the UK and possibly in other territories as well. When searching for ‘Phantom,’ the fake app appears at the top of the screen, seemingly legitimate at first glance. It is listed in the ‘Education’ category, unlike the original app which is categorized as ‘Utilities’. Surprisingly, the fake app has allegedly been in the store for ’17 years’, which is much older than Solana and Bitcoin itself.
Swissborg co-founder Alex Fazel issued a warning to users about the fake app, stating, “There is a fake Phantom wallet app in the Apple Store that looks real but will drain all your assets as soon as you use your recover your account with a private key.” The seriousness of the issue is highlighted by reports of users experiencing significant financial losses. Mende Matthias, co-founder of the Dubai Blockchain Center, reported a theft exceeding $100,000 from his Phantom wallet on June 25, 2025. This theft occurred shortly after receiving presale tokens, despite having strong security measures in place. Matthias emphasized that he did not engage with any suspicious links, bringing into question how the security breach could have occurred.
Phantom Wallet users are urged to be cautious and only download apps from verified developers to avoid falling victim to scams. The incident sheds light on the ongoing challenges and risks within the crypto space, emphasizing the importance of sharing information and staying informed about potential threats. The situation also raises concerns about Apple’s AppStore security and vetting process, sparking debates about the allowance of sideloading apps through third-party stores. The fact that the AppStore permitted the listing and ad promotion of a scam clone of a financial app is troubling and highlights the need for increased vigilance among users.
With the fake Phantom wallet app still live in the Apple Store, users need to exercise caution when downloading financial apps. The fake app, which closely resembles the legitimate Phantom Wallet, has been linked to significant financial losses among users. Reports of assets being drained upon account recovery with a private key have raised red flags within the crypto community. Users are urged to only download apps from verified developers and be wary of suspicious links to prevent falling victim to such scams. The incident serves as a reminder of the risks and challenges present in the crypto space, underscoring the importance of staying informed and sharing information within the community.
The warning issued by Swissborg co-founder Alex Fazel regarding the fake Phantom wallet app highlights the severity of the situation. Users have reported substantial financial losses, with one user experiencing a theft exceeding $100,000 from their Phantom wallet. Despite having robust security measures in place, the user fell victim to the scam shortly after receiving presale tokens. The incident has raised concerns about how the security breach occurred and emphasizes the need for heightened vigilance among users. It also prompts questions about Apple’s AppStore security measures and the vetting process for listed apps, bringing attention to the risks associated with allowing sideloading of apps through third-party stores.
As the fake Phantom wallet app continues to deceive users, it is imperative for individuals to stay informed and cautious when dealing with financial apps. The fake app, published by Meta Voxify and with poor reviews, has managed to evade detection and is still accessible in the UK and potentially in other territories. Users may be lured by the app’s appearance of legitimacy, as it is prominently displayed when searching for ‘Phantom’ in the Apple Store. The incident serves as a reminder of the challenges and risks present in the crypto space and underscores the importance of verifying app developers before downloading any financial applications. It also raises concerns about the security of the AppStore and the potential for fraudulent apps to slip through the cracks, posing a threat to the community.
