Phantom Chat under scrutiny after $264K address poisoning loss

Phantom Chat is under scrutiny after a phishing attack drained $264,000 in Wrapped Bitcoin, renewing concerns over wallet UX and address poisoning scams.

A built-in messaging feature in the Phantom crypto wallet is drawing scrutiny from security researchers after an investor lost about $264,000 worth of Wrapped Bitcoin in what investigators described as a phishing attack enabled by address poisoning.

Blockchain investigator ZachXBT shared blockchain data pointing to a victim losing 3.5 Wrapped Bitcoin (wBTC) in a suspected phishing attack tied to Phantom Chat.

The data shows a transaction where 3.5 WBTC was transferred from address “0x85c” to address “0x4b7” on Wednesday, flagged as a “high balance” address on blockchain intelligence platform Nansen. The transaction pattern is consistent with address poisoning, a phishing technique that exploits users’ transaction histories rather than compromising private keys.

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