electrum android client

Electrum android client safety

Users of Bitcoin wallet Electrum are currently facing phishing attacks, according to the Devi Security Lab. Hackers broadcast messages to electrum clients through a malicious server, prompting the user to update to v4.0.0, and if the user is prompted to install this backdoor-carrying client, the private key is stolen and all digital assets are stolen. At the time of writing, at least 1,450 BTCs (stolen by one user, antimalware firm Malwarebytes and Electrum) had been stolen in phishing attacks that faked Electrum upgrade tips, with a total value of approximately $11.6 million. It is worth mentioning that electrums below version 3.3.4 are vulnerable to such phishing attacks, and users of Electrum wallets are requested to update to the latest version of Electrum3.3.8 via the official website (electrum.org), which has not yet been officially released, and do not use the links in the prompts to avoid asset losses.

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This "update prompt" is not an official act of Electrum, but a phishing attack by an attacker that exploits a message flaw on the Electrum client and the ElectrumX server, which requires the attacker to deploy the malicious ElectrumX server in advance, and the malicious server is localized by the user's Electrum client (because the Electrum client is a light wallet and the user needs the ElectrumX server to broadcast the transaction). At the time of the madness, malicious ElectrumX servers accounted for as much as 71% of the total, and the show did not fully count that hundreds of bitcoins had been stolen in this phishing attack over the past year or so.

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By default, electrum wallets are randomly connected to a set of Electrum servers. From a privacy perspective, this is not a good thing because it discloses your wallet address and balance to unknown third parties. And unfortunately, many public Electrum servers are run by individuals or groups of blockchain analytics companies or worse. Therefore, if you are using an Electrum wallet, it is generally recommended that you run your own Electrum server and then connect the wallet to that server.

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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.

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In a Reddit post, a user named mrsxeplatypus warned users to watch out for an electrum malware version of the ad and described how the scam ad worked. According to reports, the malicious ad disguised as electrum ads, click on the ad, will start downloading EXE files. In fact, users go to the fake url elecktrum.org, not the electrum.org. Google is said to have taken steps to deal with the malicious ad.

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DeViable Security Labs hereby suggests that versions of Electrum below 3.3.4 are vulnerable to such phishing attacks, and users using Electrum Wallet are requested to update to the latest version of Electrum 3.3.8 via the official website (electrum.org), which has not yet been officially released, and do not use the link in the prompt to avoid asset losses.