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ETH 
SOL Phantom users experience massive service interruption
On July 11, 2026, Phantom, one of the most widely used self-managed wallets in the cryptocurrency space, experienced a severe service interruption during peak trading periods, preventing thousands of users from accessing its asset portfolio. The wallet initially gained attention through the Solana and SOL ecosystems, and later expanded to Ethereum and other networks. Phantom has publicly acknowledged this issue and confirmed that some users are experiencing performance degradation.
Service outages started during peak trading periods in multiple time zones and mainly affected users on the Solana and Ethereum networks. Many users reported that multiple decentralized apps in the Phantom wallets they connected showed zero balances or frozen price data. Analysts pointed out that the failure originated in Phantom's data aggregation layer, not key storage infrastructure, so user funds remain safe on the chain, but weaknesses in functional reliability are fully exposed. From a practical operational perspective, this data aggregation layer is located between the blockchain and the user interface and is responsible for grabbing balances, token prices and related status to help wallets display information and build transactions.
Service has been restored, but doubts remain
The service outage started at around 13:00 UTC and was repaired at around 16:40, which happened to cover the peak trading period for Solana and Ethereum networks. Within hours of the incident, Phantom confirmed that its mobile app had returned to normal operation and apologized to the affected users. Within 24 hours, users submitted more than 161 fault reports, confirming that the problem affected mobile applications, Phantom backend and browser extensions. Repeated interruptions could weaken Phantom's market position as users prefer wallets that can be accessed stably during critical trading hours. Although quick fixes and transparent communication have alleviated the impact to some extent, the incident highlights the extent to which DeFi activities rely on wallet infrastructure, which can fail under stress.
