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The veteran Bitcoin desktop wallet client Electrum has released the official version of 4.0, adding support for several important updates, such as the Lightning network, and has released an updated version 4.0.1. Electrum adds features such as PSBT (partially signed Bitcoin transactions), Lightning Network, watchtowers (暸 watchtowers) and Submarineswaps (subliminal switching) for version 4.0.

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In December 2018, Slow Fog first discovered and alerted an attacker to a messaging flaw using the Electrum wallet client, forcing an "update prompt" to pop up when a user transfers money, inducing the user to update and download the malware, which in turn commits a currency theft attack. Although electrum officials said in early 2019 that some security mechanisms would be in place to prevent this "update phishing", many users of Electrum are still in the old version (less than 3.3.4) and the old version is still under threat. However, we do not rule out a similar threat to the new version.

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June 28 (Xinhua) -- Bitcoin desktop wallet client Electrum has released a 4.0 beta version, adding several important updates to support the Lightning network. Electrum primarily adds features such as PSBT (partially signed Bitcoin transactions), Lightning Network, watchtowers (暸 watchtowers), and Submarine Swaps (subliminal switching).

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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 Wallet is fast and has 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.

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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.