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.
Electrum was launched in 2011 with a lite version of Bitcoin wallet with an open source code under MIT licenses.
Dynamic . . . Electrum and MyEtherWalle users face phishing attacks.
Blockchain Web Messaging, the veteran Bitcoin desktop wallet client Electrum released a 4.0 beta version, adding several important updates, including support for the Lightning network, nearly a year after Electrum's last release, 3.3.8 (last July). In the 4.0 beta version, Electrum primarily added features such as PSBT (partially signed Bitcoin transactions), Lightning Network, watchtowers (暸 watchtowers), and Submarine swaps (subliminal switching).
Technology vulnerabilities have led to the exposure of thousands of Bitcoin wallets and the Electrum client's need to fix them.
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.
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Electrum Pro shut down its website after it was revealed that its software was stealing malware for Bitcoin.
According to the Dimensionality Reduction Security Lab, users of Bitcoin wallet Electrum are currently facing phishing attacks. The hacker broadcasts a message to the Electrum client through the malicious server, prompting the user to update to v4.0.0. If the user installs this "backdoor client" as prompted, the private key will be stolen, and all digital assets
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Since the end of December 2018, Bitcoin wallet Electrum users have lost 771 BTCs (worth about $4 million) in phishing attacks, according to a study released by Malwarebytes Labs. Electrum is known to implement a variant of a technology called Simplified Payment Verification (SPV), which allows users to send and receive transactions without having to download a full copy of the Bitcoin blockchain. An attacker is exploiting a vulnerability that anyone can manipulate a public Electrum peer to carry out an attack. (TNW)