best way to set up electrum wallet

best way to set up electrum wallet, electrum walle

The electrum and Electrum-LTC versions below 3.3.3 are vulnerable to phishing attacks in which a malicious server displays a message asking the user to download the fake Electrum. To prevent user exposure, versions older than 3.3 can no longer connect to public servers and must be upgraded. Do not download software updates from sources other than electrum.org and electrum-ltc.org.

best way to set up electrum wallet, best way to set up electrum wallet

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.

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He later updated his post, adding: "If you don't have a wallet password, the theft is trivial." If your wallet password is set well, it seems that an attacker can only get address/transaction information from your wallet and change your Electrum settings, which, in my opinion, have a good chance of being further exploited by hackers. So, if you set your wallet password, you can reduce your panic to a certain extent, but you should still take it seriously. "