In the rapidly evolving world of crypto, securing digital assets against new types of scams is paramount. Recently, a sophisticated new form of attack known as simulation spoofing has emerged, threatening the security of wallet transactions from unknown dApps. At Phantom, we're proud to announce a significant advancement in wallet security designed together with Lighthouse Protocol to protect our users from these very threats.
Understanding Simulation Spoofing
Simulation spoofing involves crafting deceptive transactions that, when previewed by a wallet user, appear benign and safe. These transactions cleverly mask their true intentions, hiding the fact that they intend to drain the user's wallet once signed. Victims of such attacks only realize what has happened after their funds have been irrevocably transferred, leaving them with no recourse.
Introducing Guard Instructions
To counter this threat, Phantom has collaborated with Lighthouse Protocol to implement a groundbreaking security feature: Guard Instructions. These instructions are a robust set of assertions added to transactions proposed to users. Together they ensure that the state changes presented in the transaction previews accurately reflect the actual transaction outcomes when executed on-chain.
How It Works
When your Solana transaction gets executed on-chain, Guard Instructions meticulously verify that all state changes shown in the transaction preview will occur as displayed. If there is any material discrepancy between the previewed and actual transaction results, the Guard Instructions automatically intervene. They prevent the transaction from proceeding, thereby safeguarding your assets from unauthorized and malicious withdrawals.
Seamless Security Enhancement
This security measure operates entirely behind the scenes. As a user, you won't notice any difference in how you use Phantom; however, you can rest assured knowing that the transaction previews shown to you can be trusted.
Partnership with Lighthouse Protocol
The development of this feature was made possible through our partnership with Lighthouse Protocol, an innovative on-chain protocol specializing in transaction state verification. Supported by a grant from the Solana Foundation, Lighthouse Protocol aims to enhance security across the Solana ecosystem, making these tools available as open-source for the greater good of all users and developers. Their Solana program has been audited by OtterSec.
Ahead of the Curve
Phantom is the first wallet to implement such sophisticated measures to combat simulation spoofing. We are setting a new standard for wallet security in the web3 space, ensuring our users are protected with the latest and most effective technologies.
We thank Lighthouse Protocol for their crucial collaboration and look forward to continuing our common efforts to secure the digital assets of our ecosystem.
Stay tuned for updates as we continue to innovate and lead in providing the safest, most user-friendly crypto wallet experience.
At Phantom, your security is our top priority. We are constantly exploring new ways to enhance our safeguards so you can manage your digital assets within Phantom worry-free.
