Phantom wallet hit by service disruption that triggered missing balance displays

Phantom, one of the most widely used self-custody wallets in crypto, announced that it was experiencing a service disruption which was affecting token price and balance display functions. It’s the kind of outage that, regardless of how brief, tends to send panic waves through the user base.

According to reports, Phantom acknowledged problems with token price and balance display functions and said work was underway to restore them. A few hours later after the issue was pointed out, Phantom reported that the issue has now been resolved. The wallet confirmed that user assets were safe and that the disruption was limited to price data, not the underlying funds themselves.

However, at the time that assurance, reasonable as it is technically, didn’t do much to calm the people staring at empty portfolio screens.

Users report missing balances and claim losses

The disruption reportedly led some users to see their balances disappear entirely, or to see prices displayed as though they had cratered. On X, claims of actual asset losses emerged alongside calls for compensation. Some users said the outage made it impossible to sell positions, which they attributed to real financial harm.

Phantom pushed back on those claims directly, saying there was only an issue with token price updates and that user assets remained intact. But that framing, “your money is fine, the display is broken,” has limits. 

In a market where timing matters and traders rely on price data to make split-second decisions, a visual glitch and a real loss can end up looking identical from the user’s perspective. Whether Phantom is technically correct or not doesn’t matter much to someone who watched a position go sideways during the outage window and couldn’t act.

The broader industry view is that the incident likely stemmed from a front-end or data-integration error. That reading lines up with how Phantom is architecturally set up. 

Phantom integrates CoinGecko’s API to provide verified token metadata and real-time pricing across its multi-chain interface, pulling from endpoints that supply live price, market cap, and trading volume for every token shown in the app. When that data feed breaks, what users see is essentially a blank wallet, even though the assets themselves sit untouched on-chain.

Notably, the most recent Phantom incident logged before this one, on March 28, 2026, was titled “Service: CoinGecko API seems to be down,” suggesting this is at least the second time in under two weeks that a pricing data dependency may have been at the root of a user-facing disruption.

A pattern that’s becoming hard to ignore

This isn’t Phantom’s first rodeo with balance display failures, and it’s worth putting the latest incident in context. In October 2024, the wallet experienced a significant outage during the highly anticipated Grass token airdrop, causing inaccurate account balances and service interruptions for users trying to claim tokens.

Phantom confirmed it was dealing with an “outage event” that had been ongoing for over an hour, while reassuring users that funds were safe and the browser extension and mobile app remained operational. 

Before that, on Feb. 3, 2024, it experienced delays with how token balances were being updated, and on Aug. 15 of the same year, it reported a temporary issue that prevented users from properly seeing account balances. In both instances, the issues were resolved quickly. 

Then came February 2025. Phantom experienced another temporary outage and subsequently confirmed that all services were back online, writing: “We apologize for the downtime. We understand how important it is to access your assets and are taking steps to prevent future outages.” 

Monitoring service IsDown, which has tracked 85 Phantom incidents since July 2023, notes that when Phantom goes down, incidents typically resolve within 21 minutes based on historical data. 

That’s actually a relatively quick turnaround. But the frequency, averaging roughly 2.7 incidents per month over nearly three years, suggests this is a recurring infrastructure challenge that the company hasn’t fully gotten on top of.

To be fair to Phantom, it is not alone here. Wallet apps that depend on third-party price data aggregators are somewhat structurally exposed to this kind of failure. When an API provider goes down or rate-limits requests, the wallet has no pricing to display, and users see the worst. 

The on-chain assets are always fine. But the experience of a suddenly empty wallet is difficult to separate from genuine fear, especially for newer users who may not understand the distinction between a display error and an actual loss of funds.

What’s harder to defend is the communication. As of the night of the outage, the further updates after Phantom’s initial notice weren’t as fast. For a wallet with a user base the size of Phantom’s, that gap is a problem.