electrum nicehash, Nicehash and Electrum not playing well

2022-04-29

When I accidentally searched for ETC 51% attacks and other PoW currencies and their likelihood of being affected by NiceHash, I found that NiceHash currently holds more than 70% of The World's computational power, as shown here: 1390TH/nicehash vs 1790TH/s. This question is unusual. Usually niehash only holds 10% to 20% of the PoW currency, which only affects small PoW fork coins.

In a recent announcement on Twitter, Electrum advised users to disable the automatic connection option and manually select a server, while the company is developing a more powerful Electrum.

NiceHash is a computational trading platform where miners can buy the computational power of different algorithms on NiceHash and dig in the F2Pool fish pond.

Click to get the Electrum Personal Server source code and the Electrum Wallet source code.

Fake: github/electrum-wallet/electrum/releases.

and open the web page, then your wallet may have been compromised. Particularly paranoid people may want to send all BTCs from their old Electrum wallets to the newly generated Electrum wallet.

Users of Bitcoin wallet Electrum are facing phishing attacks, according to Johnwick.io. Hackers broadcast messages to the Electrum client through a malicious server, prompting the user to update to v4.0.0, and if the user follows the prompt 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 worth about $11.6 million had been stolen from phishing attacks that faked Electrum upgrade tips. 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.

In August-September, Bitcoin wallet Electrum was hacked twice, and according to multiple sources, at least 1,450 BTCs worth $11.6 million were stolen from phishing attacks that faked Electrum upgrade tips.

Note: Electrum-XZC is derived from Electrum and uses different seed phrase criteria, so it cannot be imported.

NiceHash market vulnerability.

NiceHash market vulnerability.

Bitcoin Wallet providers like Trezor and Electrum.

The Nicehash rental platform currently holds more than 70% of DASH computing power, 1411 TH/s nicehash, for a total of 1790.

When an Electrum wallet queries a third-party Electrum server, the server can link two transactions together and know which address is a zero address.

It's not hard to run your own Electrum server and point your wallet to just use it. This restores Electrum to the point where it has the same privacy and security attributes as the full node, where no one else can see the address or transaction that the wallet is interested in. Electrum then becomes an all-node wallet.

ETC Cooerative team members develop Nicehash mining monitoring tool ForkWatch

NiceHash event.

NiceHash event.

In January 2018, Slovenian mining company NiceHash was stolen 4000BTC.

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