Solana-centric wallet Phantom adds support for Coinbase’s Base network

Crypto wallet Phantom has launched beta support for Coinbase’s layer 2 network Base, allowing users to manage assets across multiple chains.

Cryptocurrency wallet Phantom, originally designed as a Solana-based application, announced the availability of beta support for Base, the Ethereum-based layer-2 network developed by Coinbase.

In a blog post, the Phantom team explained that users can now explore functions like sending, receiving, and purchasing debit and credit cards, Base-based stablecoins like USD Coin (USDC), and cryptocurrencies like Ethereum (ETH) using Apple Pay. or Coinbase.

How to enable Base:

Step 1: Open Phantom on mobile or browser
Step 2: Go to ‘Settings’
Step 3: Select ‘Active Networks’
Step 4: Open ‘Base’

When you do this, Base will be enabled.

A friendly reminder: Just like our other chains, Base is 100% opt-in. pic.twitter.com/6zKNN1TB0n

— Ghost (@ghost) October 7, 2024

Phantom emphasized that Base support is currently in beta, meaning those who want to try this new addition will need to enable it in their wallet settings.

In addition to asset management, Phantom also allows users to interact with decentralized finance applications and non-fungible tokens within the Base ecosystem. Beyond that, the wallet also supports features designed to increase security, such as compatibility with Ledger devices, automatic spam detection for malicious NFTs and tokens, and transaction simulation to flag suspicious activity.

Founded in 2021, Phantom later completed a $109 million series B financing round led by Paradigm, increasing its value to $1.2 billion. Other investors include Jump Capital, Andreessen Horowitz, Solana and Variant. The wallet supports multiple networks, including Bitcoin, Ethereum, and Solana.

Meanwhile, blockchain networks face increasing security challenges as malicious actors exploit vulnerabilities in smart contracts, with Coinbase’s Base network leading to high-risk detections. As crypto.news previously reported, data from Trugard Labs shows that Base was responsible for more than 34,000 high-risk detections on its smart contracts in August.

The network incubated by Coinbase was particularly susceptible to Digital Signature issues, with nearly 22,000 detections of tampering with standard libraries such as SafeMath. Malicious boolean checks on token transfers also posed significant risks, with more than 6,300 examples detected on Base. These controls can block or manipulate token transfers and create a significant security vulnerability.