Phantom, a multi-chain crypto wallet provider, faced a backlash following a tweet by AceofAI suggesting a partnership, which fueled confusion among investors. The misunderstanding led to a surge in ACE token prices. However, Phantom later clarified that there was no official partnership, causing ACE token values to plummet.

The miscommunication resulted in ACE token’s value dropping by over 90%, causing dissatisfaction among investors. Many took to social media platforms accusing Phantom of misleading them. The firm had earlier responded to AceofAI’s announcement with emojis that mistakenly confirmed the partnership, leading to the confusion.