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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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Your Electrum wallet uses a third-party server that can see all your Bitcoin addresses and transactions. And when you connect to it through Tor, the server doesn't know your real IP address. Since you only use one Bitcoin address once and never use it again, the server cannot link it to any other address group. When you spend the entire balance, there is no zero address where the information can be disclosed. Even with third-party servers, this setting can actually create a lot of privacy.

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Electrum posted a message about the incident on Twitter today, claiming that "there are currently phishing attacks against Electrum users" and imploring users to check the validity of their login information.

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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.