Phantom defends its wallet security in allegations of 'vulnerabilities endangering user funds'

According to Cryptoslate, in response to criticism from security researcher @ CloakdDev, Solana's on chain cryptocurrency wallet Phantom stated that a recently exposed vulnerability does not pose a threat to the security of user funds. Phantom expressed apologies for the communication delay in a public statement and reiterated its commitment to security, stating, "We are confident that this vulnerability will not jeopardize user funds in any form." However, Phantom did not provide further technical details or a timeline for potential countermeasures. Similarly, Cloakd did not disclose specific technical information regarding the vulnerability. The controversy erupted on social media on January 21st, with Cloakd expressing dissatisfaction with Phantom's response, stating, "So far, this is a joke, I can't even get any updates from their security team." Cloakd believes that this delay is very worrying for a large platform like Phantom. Faced with Phantom's response, Cloakd countered that the vulnerability "directly threatens the security of user funds". They suggest Phantom users take preventive measures such as backing up mnemonic words and considering changing wallets. This incident has sparked widespread concerns among users, with many questioning how wallet providers balance transparency and security. Some community members sought advice from Cloakd to understand the level of risk and how to protect assets. Cloakd suggests that users consider migrating to other wallets.