Issues with sending and receiving funds in the Phantom digital wallet
Users of the Phantom digital wallet, designed for the cryptocurrency Solana, are facing difficulties in sending and receiving financial assets. There is suspicion that the digital wallet is currently out of operation, as evidenced by the absence of transaction records on the Solana blockchain, the digital ledger for cryptocurrency transactions.
Causes of Troubles with the Phantom Wallet
It seems that the primary reason why the Phantom wallet is experiencing technical issues is network congestion on Solana. This congestion is caused by a massive influx of users attracted to so-called meme coins, such as BOME, especially after their listing on the major cryptocurrency exchange Binance. As a result, the Solana network is flooded with users attempting to acquire these new assets in hopes of their future appreciation.
Warning Against Fraudulent Practices
In addition to technical troubles, concerns are growing within the cryptocurrency community about the increasing number of scams. Some influential individuals in the community are enticing users to exchange their Solana tokens for meme coin airdrops, a practice leading to significant financial losses. Recently, a scam emerged in which users had their assets in Solana tokens stolen, amounting to over $2.6 million, once again highlighting the dangers associated with the current meme coin frenzy.
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