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The Electrum team has announced the attack in an official tweet, saying that "this is an ongoing phishing attack on Electrum users" and reminding them to check the authenticity of the client's source before logging in. The team published its official website, and the Electrum clients downloaded elsewhere may be problematic.

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To solve this problem, we can introduce a new trading category that only locks accounts to prevent incoming transfers. Alice can wait until the transaction enters the blockchain before initiating the outgoing transmission (or burning the transaction). While this may seem to solve the problem, it creates new problems for users like Bob who want to deliver ZTH to Alice. Alice's account may not be locked out when Bob releases the transfer trade Tx, but it may be locked out before Tx enters, causing Tx to be rejected.

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This isn't the first time Thatectrum has appeared in a fake version, with hackers developing a fake encrypted wallet, Electrum, in December, resulting in the theft of nearly 250 bitcoins worth about $1 million. In January, GitHub discovered a fake Electrum wallet called "Electrvm" designed to steal users' money. In February, users of encrypted wallets Electrum and MyEtherWallet reported that they were facing phishing attacks.