Phantom announced late Monday night that it is experiencing a temporary service outage that is affecting token prices and balances on the platform.
The crypto wallet service added that it is actively working to resolve the issue as soon as possible. As of 9:57 p.m. on Monday, there have been no new updates on the service disruption.
While Phantom has yet to clarify the exact source of the outage, multiple users claimed on social media platform X that they lost their balances due to the issue.
"It has been down for over an hour and a half and it cost me $450 and I'm seriously freaking out," wrote X user LetitBurn79, who added that the service outage has allegedly barred users from selling and caused some token prices to plummet. "What is the remedy here? These are people's lives."
Several other X users who claimed to have lost their funds due to the current disruption are already calling for a full reimbursement.
Despite the mounting online apprehension, Phantom said user funds are not affected by the outage.
"We are having trouble updating your token prices. Your funds are safe," the Phantom mobile wallet app said. The Block has reached out to Phantom for comment.
This is a developing story.
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