All About Lightning Electrum
January 19 (Xinhua) -- Electrum is a world-renowned Bitcoin light wallet with a long history of supporting multi-signatures and a very broad user base, many of which like to use Electrum as a cold wallet or multi-signature wallet for Bitcoin or even USDT (Omni), according to the Slow Fog Security team. Based on this usage scenario, Electrum is used less frequently on the user's computer. The current version of Electrum is 3.3.8, and previous versions of 3.3.4 are known to have "message defects" that allow an attacker to send an "update prompt" through a malicious ElectrumX server. This "update tip" is very confusing to the user, and if you follow the prompt to download the so-called new version of Electrum, you may be tricked. According to user feedback, because of this attack, stolen bitcoins are in the four digits or more.
On December 27, Reddit user u/normal_rc reported that Electrum's wallet had been hacked and that nearly 250 bitcoins (243.6 BTCs, nearly $1 million) had been maliciously stolen, coinelegraph reported. Electrum then confirmed that the attack included creating a fake version of the wallet to trick users into providing password information. Electrum responded on Twitter that "this is a persistent phishing attack on Electrum users" and warned users not to download Electrum from any source other than the official website.
Electrum Wallet is one of the most popular Bitcoin wallets and has been around for several years. However, Electrum wallet users often rely on Electrum servers, which presents some security and privacy trade-offs. If you use electrum personal servers, Electrum wallet users can connect locally to their own private servers, enjoying the convenience of Electrum without any trade-offs.
Article Link : Digital Wallet Electrum Hacked, Loss of 250 Bitcoins (Copy Link)
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In recent days, hackers or hacker groups have stolen more than 200 bitcoins worth about $750,000 by attacking the infrastructure of electrum Bitcoin wallets. The attacker is targeting Electrum.
Electrum is free software used by many cryptocurrencies websites, including merchants and exchanges, to store bitcoins. Anyone can run an Electrum server, and the software supports hardware wallets such as Trezor, Ledger, and Keepkey. Enhanced features include multi-signal and the ability to sign transactions using cold storage devices that are not connected to the network.
Why use Electrum? Here are a dozen of the benefits of electrum wallets.
While Bitcoin's market value is still about $180 billion, the reached cap on the market value of bitcoins measured by mobile bitcoins, minus the impact of the loss of bitcoins, is nearing an all-time high of $106.2 billion.
According to The Next Web, the attackers even implemented their own Electrum servers, which hosted the attacked Electrum.
Ransomware masquerading as Windows Update tricked users into sending $500 in bitcoins.
Jandjol: Bitcoin Core's next goal is to issue more bitcoins and halve the 21 million cap.
The most immediate factor that could really shake up Bitcoin's scarcity is changing the cap on the number of bitcoins issued.
Dynamic . . . Ransomware masquerading as Windows Update tricked users into sending $500 in bitcoins.
Article Tags: electrum cap on sending bitcoins