As mentioned earlier, because electrum light wallets are different from Bitcoin light wallets such as MultiBit or Breadwallet, they cannot communicate directly with bitcoin full nodes and can only communicate with electrum.
m/44'/60'/0'/x: Electrum, Ledger Chrome App.
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Electrum-LTC is a simple but powerful Litecoin wallet. Like its predecessor, the Electrum-Bitcoin wallet, the open source wallet is available on GitHub and anyone can view or upgrade the code.
Attackers reportedly created their own Electrum servers, which hosted the attacked version of Electrum in order to implement the attack. When the user will be vulnerable.
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Users of Bitcoin wallet Electrum are currently facing phishing attacks, according to the Devi Security Lab. Hackers broadcast messages to electrum clients through a malicious server, prompting the user to update to v4.0.0, and if the user is prompted to install this backdoor-carrying client, the private key is stolen and all digital assets are stolen. As of 13:00, at least 1450 BTCs worth approximately $11.6 million had been stolen from phishing attacks that forged Electrum upgrade tips. Devi Security Labs hereby suggests that versions of Electrum below 3.3.4 are vulnerable to such phishing attacks, and users using Electrum Wallet are requested to update to the latest version of Electrum3.3.8 via the official website (electrum.org), which has not yet been officially released v4.0.0, and do not use the link in the prompt message to avoid asset losses.
Why use Electrum? Here are a dozen of the benefits of electrum wallets.
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In August-September, Bitcoin wallet Electrum was hacked twice, and according to multiple sources, at least 1,450 BTCs worth $11.6 million were stolen from phishing attacks that faked Electrum upgrade tips.