Phantom Wallet Ends Sui (Sept 24) and Monad (Aug 26) Support—How to Migrate Safely
Phantom Wallet announced it will end in-app support for two networks. Monad support ends on **Aug 26, 2026**, and Sui support ends on **Sept 24, 2026**. After each deadline, Phantom will stop showing those balances and will not process transactions on the unsupported network, but **funds are not lost** because the assets remain on-chain under the same recovery phrase. This means traders must act before the cut-off to keep convenient access.
For Monad holdings, Phantom offers two main routes before **Aug 26**: (1) swap native **MON** into an actively supported network (Phantom waives only its in-house fee for certain cross-chain swaps until the deadline, while network and venue fees still apply), or (2) export the secret recovery phrase and import it into another Monad-compatible wallet.
For Sui holdings, Phantom ends support on **Sept 24** and directs users to migrate to other Sui-compatible self-custody wallets. The article stresses that switching wallets by importing your recovery phrase is generally treated differently from swapping.
Tax note for German investors: moving between your own wallets is described as not a taxable disposal, while swapping coin-for-coin can be treated as a sale/exchange event. Recordkeeping (date, quantity, price, holding period) is emphasized—especially if you swap.
Security warning: any unsolicited “migration help” around the Phantom Wallet deadlines should be treated as a likely phishing scam. Phantom says it will never contact users first or request the recovery phrase/private key.
Overall, this is an access-and-tax workflow event, not a loss-of-custody event, but traders should prepare now to avoid higher fees, deadline friction, and potential tax surprises.
Neutral
This is unlikely to directly impact chain liquidity or token fundamentals because Phantom Wallet ending support does not move custody or delete on-chain balances; assets remain controllable via the same recovery phrase. Historically, similar “wallet integration sunset” events (when an app stops supporting a chain) usually cause short-term friction—transactions cluster near deadlines, and users rush to migrate—but they rarely produce sustained price dislocations unless liquidity is already thin or coordinated delisting/forced liquidation follows (which is not described here).
Short term: trading activity may rise around **Aug 26 (MON)** and **Sept 24 (SUI)** due to wallet-side swaps and migrations. However, Phantom’s fee waiver only reduces Phantom’s in-house fee for certain swaps and does not remove market/venue and network costs, so traders expecting truly “free” exits may face slippage.
Tax angle matters for behavior: if traders swap inside the wallet, Germany-referenced tax treatment can turn a migration into a taxable exchange, potentially reducing willingness to trade near the deadline and shifting more users toward recovery-phrase exports/imports instead. That behavioral shift can dampen immediate sell pressure.
Long term: the key takeaway for market stability is that wallet support lists are not permanent. This can slightly increase perceived operational risk around self-custody tooling, encouraging diversification across wallets and stronger key management—generally a neutral-to-mildly supportive trend for resilience, not a bearish catalyst.
Net: expect operational churn and deadline-driven volatility near the dates, but no clear directional signal for broader market prices.