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Phantom wallet says some users hit transfer and swap performance issues

Phantom wallet says some users hit transfer and swap performance issues

The Solana-focused self-custodial wallet said sends and swaps are seeing degraded performance for some users, while features such as balance checks appear to be functioning normally.

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Fact Check
The official Phantom X post (@phantom, 2026-07-12) states verbatim that some users are experiencing degraded performance with sends and swaps, matching the claim precisely. The official Phantom status page shows a Major incident affecting the extension, mobile app, and backend while other services remain Operational, consistent with the claim that features like balance checks function normally. CryptoBriefing independently corroborates the same date and details. All three sources align.
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Summary

Phantom said on July 12 that some users are experiencing degraded performance when trying to send tokens or execute swaps, while other functions such as checking balances are reportedly still working. The self-custodial wallet said it is investigating and has not disclosed how many users are affected, which tokens or chains are involved, or what is causing the issue. Phantom, which began as a Solana-only wallet before expanding support to Ethereum, Bitcoin and Polygon, is widely used across Solana-based DeFi, NFT and meme-coin activity. Similar complaints about Solana token sends surfaced in April 2024, when community feedback pointed to network congestion and app updates as possible factors, though it is unclear whether the latest disruption has the same cause. Because Phantom is non-custodial, users can still access the same on-chain assets through other compatible wallet interfaces using their recovery phrase.

Terms & Concepts
  • self-custodial wallet: A wallet that lets users control their own private keys rather than relying on a third party to hold assets.
  • swap: A crypto-to-crypto trade carried out within a wallet or trading interface.
  • DeFi: Short for decentralized finance, a set of blockchain-based financial applications that operate without traditional intermediaries.