This isn't the first time Thatectrum has appeared in a fake version, with hackers developing a fake encrypted wallet, Electrum, in December, resulting in the theft of nearly 250 bitcoins worth about $1 million. In January, GitHub discovered a fake Electrum wallet called "Electrvm" designed to steal users' money. In February, users of encrypted wallets Electrum and MyEtherWallet reported that they were facing phishing attacks.
According to a Post on Reddit on March 26, YouTube inadvertently posted about BTC Wallet Electrum.
In a forum post on Bitcointalk, website administrator Theymos explained: "If at any time in the past you've logged in to Electrum without a wallet password and opened a web page, your wallet might have been stolen." Particularly paranoid people may want to send all bitcoins (BTCs) from their old Electrum wallets to the newly generated Electrum wallet. "
Please save 12 words of seed phrase recovery physically or in a safe place. This will help you recover your account in unfortunate circumstances.
If someone's Electrum wallet connects to one of these servers and tries to send a BTC transaction, they see an official message telling them to update their Electrum wallet, as well as a scam URL.
The HDM model differs from most other multi-signature sites in nature, and multi-signature-related operations such as combining multi-signature addresses, preparing transactions, collecting signatures, broadcasting transactions, etc., are done on the user's HDM hot wallet.
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.
Attackers reportedly created their own Electrum servers, which hosted the attacked version of Electrum in order to implement the attack. When the user will be vulnerable.
You can use Security Seeds to recover your wallet on any Electrum client, even on the Electrum Wallet online web program.
The latest version of Electrum 4.0, the Bitcoin wallet, was released On Wednesday, adding support for the Bitcoin Lightning Network, according to Decrypt. The service can be enabled through Electrum's application or through the command-line interface. In an application, the user must search the Information section to open it. The new version of Electrum also supports "Submarine Swaps", allowing people to return bitcoins on the chain in exchange for a lightning version for a fee.