Phantom, the non-custodial wallet for decentralized finance (DeFi) and NFTs on Solana, has acquired web3 security platform Blowfish. The deal, announced on 19 November, is aimed at enhancing user protection by integrating Blowfish’s robust security features into the wallet’s ecosystem. Blowfish’s team will now join Phantom to combat scams, bugs, and fraudulent decentralized applications (dApps).

Blowfish’s Track Record

Blowfish has secured assets worth over $18 billion by detecting and preventing over 2.8 million scams across 1.3 billion transactions. This proven capability is expected to bolster Phantom’s reputation as a secure and user-friendly wallet. Blowfish’s current services will be retired as its features integrate into Phantom.

Phantom has faced security and operational challenges in recent months. In June, a fake Phantom wallet on the Apple App Store caused significant user losses. More recently, a buggy update on 13 November led to iOS users being locked out of their wallets, with some reporting substantial fund losses, including one incident of $600,000.

CEO’s Vision for Enhanced Security

Brandon Millman, CEO of Phantom, highlighted Blowfish’s role in elevating the wallet’s security:

“With their help, we’re going to offer the most secure and user-friendly platform to access, and interact with, apps, tokens, and collectibles across all devices.”

Strengthening Crypto Infrastructure

The acquisition underscores a broader industry shift towards enhanced security for crypto users. Fireblocks, another key player, recently introduced a non-custodial wallet-as-a-service to safeguard digital assets further.

Phantom’s move to integrate Blowfish positions it as a leader in user safety, reaffirming its commitment to secure and seamless crypto transactions.