Home » Hackers Steal Around $1 Million Worth of Bitcoins from Electrum Wallets

Hackers Steal Around $1 Million Worth of Bitcoins from Electrum Wallets

Electrum wallet network has lost around 245 bitcoins, worth over $880,000 as a result of a phishing attack. At least 245 BTC was transferred to several blockchain wallets which were then consolidated and moved to another address.
news - Hackers Steal Around $1 Million Worth of Bitcoins from Electrum Wallets

Electrum wallet network has lost around 245 bitcoins, worth over $880,000 as a result of a phishing attack. At least 245 BTC was transferred to several blockchain wallets which were then consolidated and moved to another address.

The hacker created multiple fake servers on the Electrum wallet network. As a result, when wallet users that connected to those servers attempted to broadcast a bitcoin transaction, they received an error message providing a malicious link to malware disguised as an updated wallet, the firm explained on its Github page.

Warning of the attack on Thursday, the firm tweeted: “There is an ongoing phishing attack against Electrum users. Our official website is https://electrum.org Do not download Electrum from any other source.”

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Thus far, Electrum has released a new version of its wallet 3.3.2, adding that “This is not a true fix, but the more proper fix of using error codes would entail upgrading the whole federated server ecosystem out there.”

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