Phantom Wallet Adds Beta Support for Coinbase’s Base Network

Phantom, originally a Solana-focused cryptocurrency wallet, has announced the beta launch of support for Base, a layer-2 Ethereum-based network developed by Coinbase. This new feature enables users to manage assets across multiple blockchain networks, expanding Phantom's functionality beyond Solana.

In a recent blog post, the Phantom team introduced Base support as an opt-in feature, allowing users to send, receive, and purchase Base-based assets such as stablecoins like USD Coin (USDC) and cryptocurrencies like Ethereum. Users can complete transactions using debit or credit cards, Apple Pay, or through Coinbase.

Although Base support is still in beta, Phantom encourages users interested in exploring this new addition to enable it through their wallet settings. Apart from basic asset management, Phantom offers integration with decentralized finance (DeFi) applications and non-fungible tokens (NFTs) within the Base ecosystem. The wallet also includes advanced security features such as Ledger device compatibility, automatic spam detection for malicious NFTs and tokens, and transaction simulation to flag suspicious activities before they are executed.

Phantom has grown significantly since its founding in 2021, raising $109 million in a Series B funding round led by Paradigm, bringing its valuation to $1.2 billion. Other notable investors include Jump Capital, Andreessen Horowitz, Solana, and Variant. The wallet now supports multiple networks, including Bitcoin, Ethereum, and Solana.

However, blockchain networks continue to face increasing security risks, particularly as malicious actors target vulnerabilities in smart contracts. According to recent data from Trugard Labs, Coinbase’s Base network has seen a significant number of high-risk detections, accounting for over 34,000 cases in August alone. A notable portion of these incidents, nearly 22,000, involved tampering with standard libraries such as SafeMath. Additionally, over 6,300 malicious boolean checks were identified, which could block or manipulate token transfers, posing a critical vulnerability to the network.

As Phantom expands its capabilities with Base integration, both users and developers must remain vigilant in addressing the evolving security challenges across blockchain ecosystems.