The Litecoin Foundation announced that it will move from electrum-LTC wallet to multi-purpose signature wallet BitGo.
Electrum is a world-renowned Bitcoin light wallet with a long history of supporting multi-signatures and a very broad user base, many of which like to use Electrum as a cold wallet or multi-sign wallet for Bitcoin or even USDT (Omni). Based on this usage scenario, Electrum is used less frequently on the user's computer. The current version of Electrum is 3.3.8, and previous versions of 3.3.4 are known to have a "message flaw" that allows an attacker to send an "update prompt" through a malicious ElectrumX server. This "update tip" is very confusing for the user, and if you follow the prompt to download the so-called new version of Electrum, you may get a trick. According to user feedback, because of this attack, stolen bitcoins are in the four digits or more. This captured currency theft attack is not stealing the private key (electrum's private key is generally stored with two-factor encryption), but replaces the transfer destination address when the user initiates the transfer. Here we remind users that when transferring money, special attention needs to be paid to whether the destination address has been replaced, which is a very popular method of currency theft recently. It is also recommended that users use hardware wallets such as Ledger, if paired with Electrum, although the private key will not have any security issues, but also need to be alert to the target address is replaced.
Electrum is a popular software wallet that works by connecting to a dedicated server. These servers receive a hash of the Bitcoin address in the wallet and reply with transaction information. Electrum wallets are fast and have few resources, but by default, it connects to these servers and can easily monitor users. In addition to Electrum, some other software uses public Electrum servers. By 2019, it is a faster and better alternative to BIP37.
The Universal 2nd Factor is an open online authentication standard that enhances and simplifies two-factor authentication (2FA - Two-Factor Authentication) by using specialized USB or NFC devices. Originally developed by Google and Yubico and supported by NXP Semiconductors, the standard is now managed by the FIDO Alliance.
Analysis . . . Bitcoin wallet Electrum "update phishing" currency theft continues.
Electrum Bitcoin Wallet review.
The cryptocurrencies wallet Electrum was hacked and lost 250 bitcoins.
In contrast, another wallet, Stratis Electrum, is a simplified trading client.
The latest version of UBTC Electrum Light Wallet V3.3.4 is available for download.
PC Wallet completes the prototyping of the new PC Wallet product, exporting PRD and English Text Electrum wallets.
If someone's Electrum wallet is connected to one of these servers and tries to send a BTC transaction, they will see an official message telling them to update their Electrum wallet, as well as a scam URL.
Of course, there are wallets that are not designed according to BIP rules, such as Electrum, which was the first to use mnbike patterns, and the first determinizer wallet, which was introduced in 2011, and later Trezor's introduction of the mbike rule BIP-39, which became a recognized industry standard with its widespread use. Electrum and BIP-39's mone word rules are similar, but BIP-39 uses a fixed set of 2048 thesaver, electrum uses another thesaver, but can be compatible with BIP-39's monemone thesaver, reverse is not compatible.
Electrum LTC Wallet review.
August 8, 2019: The latest version of Electrum Litecoin Wallet 188.8.131.52 is released.
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.
You buy bitcoins anonymously with cash and send them to your Electrum wallet.