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According to Reddit user u/normal_rc, electrum's wallet was hacked and nearly 250 bitcoins (243.6 BTCs, nearly $1 million) were maliciously stolen, according to coinelegraph. 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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Samourai has already done so, removing the legal tender conversion entirely from its BTC walet. However, this is rare. Some companies, better known as mBTC (1/100 of coins), such as market data service Bitcoinity and the popular BTC desktop wallet Electrum. In general, however, only Bitcoin extremists and shanzhai coin traders are fully fluent in the use of nano-bits, bits and satoshis.