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Hackers launched a denial-of-service (DoS) attack on a well-known wallet Electrum server, according to Johnwick.io. Hackers used botnets of more than 140,000 computers to attack Electrum nodes and simultaneously deployed malicious nodes. When a user connects to these malicious nodes and sends a transaction using an older version of Electrum, the user is prompted to update the Backdoor Client. If the user installs the client as prompted, the private key is stolen and all digital assets are lost. Millions of dollars of digital currency have been stolen, according to Electrum officials. De-dimensional Security Labs recommends that users of electrum wallets be updated to the latest version of the client through the official website and never use the link in the prompt message.

Electrum hackers pre-empted a large number of "normal" electrum servers on the P2P network.

Why use Electrum? Here are a dozen of the benefits of electrum wallets.

Bitcoin Wallet Electrum users face phishing attacks, and when a user updates a client with a backdoor, the private key is stolen and 1450BTC has been stolen so far.

As mentioned earlier, because electrum light wallets are different from Bitcoin light wallets such as MultiBit or Breadwallet, they cannot communicate directly with bitcoin full nodes and can only communicate with electrum.

The veteran Bitcoin desktop wallet client Electrum has released the official version of 4.0, adding support for several important updates, such as the Lightning network, and has released an updated version 4.0.1. Electrum added features such as PSBT (partially signed Bitcoin transactions), Lightning Network, watchtowers (暸 watchtowers) and Submarine swaps (subliminal switching) for version 4.0.

Bitcoin wallet Electrum now supports Lightning online payments, according to Coindesk on July 11. It has previously been reported that Bitcoin Wallet Electrum has released a beta version of Electrum 4.0, adding support for the Bitcoin Lightning Network.

According to The Next Web, the attackers even implemented their own Electrum servers, which hosted the attacked Electrum.

As of press time, phishing attacks that forged Electrum upgrade notifications have stolen at least 1,450 BTC (the number stolen is officially counted by a user, anti-malware companies Malwarebytes and Electrum), with a total value of approximately $11.6 million. It is worth mentioning that Electrum versions lower than 3.3.4 are vulnerable to such phishing attacks. Users who use Electrum wallets should update to the latest version Electrum 3.3.8 through the official website (electrum.org). At present, v4.0.0 has not been officially released. Version, please do not use the link in the prompt message to update, so as to avoid loss of assets

The Electrum team has also been developing other features. Electrum Wallet users can view the full release notes here.

Bitcoin Wallet providers like Trezor and Electrum.

Keep in mind that with the key conversion tool, a small partner can convert the public key, but not the private key. No one can help you convert the private key, not even Block.One, the EOS development team. Because only you know your private key, you can only rely on small partners to convert.