All About Lightning Electrum
Vulnerabilities were found in Electrum and Electrum-LTC. It has been fixed in Electrum-LTC 18.104.22.168. If you are running an earlier version, update your software.
Researchers at the popular Bitcoin wallet app Electrum have uncovered a malicious shanzhai act aimed at stealing seed keys. The suspicious shanzhai wallet, called Electrum Pro, appeared online in March and has been labeled malware since.
Electrum is a well-known light wallet for Bitcoin that adds new features such as server authentication using SSL to prevent MITM attacks. So unlike other Bitcoin light wallets, Electrum cannot communicate directly with different versions of Bitcoin full nodes, and each startup connects to electrumserver to communicate, and electrum.
This isn't the first time electrum has appeared in a fake version. In December, nearly $1 million of BTC was stolen when hackers developed a fake encrypted wallet, Electrum. 1 this year.
The UB team has now developed Core, Core-QT, Electrum Wallet (where Electrum is a lightweight wallet that supports multiple signatures) and released a complete blockchain browser. More than 18 trading platforms around the world support UBTC trading.
Next week, we'll also release Apple's iOS version of Theta wallet, which will be available to Apple iPhone/iPad users.
According to Bleeping Computer, the BTC wallet app Electrom accused a phishing product called Electrum Pro of stealing a user's seed key on May 9 on GitHub and registering a domain name called electrum without Electrum's permission. The Electrum team noted that there was a piece of code indicating that the counterfeit product might have taken the user's seed key and uploaded it to the electrum. Affected users should transfer funds from BTC URLs managed by Eletrum Pro.
In a recent announcement on Twitter, Electrum advised users to disable the automatic connection option and manually select a server, while the company is developing a more powerful Electrum.
Bitcoin wallet Electrum released 4.0 beta, new support for Lightning Network and other updates
Electrum is a popular software wallet that works by connecting to a dedicated server. These servers receive a hash of the Bitcoin address in the wallet and reply with transaction information. Electrum wallets are fast and have few resources, but by default, it connects to these servers and can easily monitor users. In addition to Electrum, some other software uses public Electrum servers. By 2019, it is a faster and better alternative to BIP37.