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The main drawback of Bech32 addresses is that not all encrypted wallets and services support them. First, hardware encryption wallets Ledger Nano S, TREZOR and Digital Bitbox, desktop encryption wallets Electrum and Amory, mobile encryption wallets Edge, GreenAddress (for iOS and Android devices) add support for such addresses, including Samourai, Wallet, Walletabi, GreenBits and Electrum (for Android devices)

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When we receive someone’s bitcoin transfer, the seemingly messy string of characters that we need to give to the other party is the bitcoin address. So, what is its underlying rationale? Why not just use the public key to receive bitcoins and use the address instead? Why is the best practice to use an address to change to a new address every time you transfer?

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Harry Denley, chief security officer of MyCrypto, a cryptocurrencies wallet company, detailed the discovery of the malicious extension in a blog post. Denley explained that the deleted apps impersonate known cryptocurrencies wallets, including Ledger, Trezor, Jaxx, Electrum, MyEtherWallet, MetaMask, Exodus and KeepKey.

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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.