Phantom sued after alleged wallet flaw led to $500,000 crypto theft, Wiener Doge token collapse
Investors claim Phantom and OKX failed to secure digital assets, leading to massive losses.
Key Takeaways
- Phantom Technologies faces a lawsuit for negligence and regulatory violations after a $500,000 hack.
- The breach exposed Phantom as unregistered, with insecure key storage, leading to massive losses for Wiener Doge investors.
A group of investors led by attorney Liam Murphy has filed a lawsuit against Phantom Technologies and OKX, alleging that severe security flaws in Phantom’s popular crypto wallet led to the theft of over $500,000 in digital assets and triggered the collapse of Murphy’s digital asset project, Wiener Doge.
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