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Use 2FA to verify. Instead of using a phone or text message to verify your identity, download an authentication program, such as Google Authentication, which randomly generates 2FA codes that are modified every 30 seconds. Buy a U2F device, such as YubiKey, which, as an encrypted USB key, can be plugged into your computer in the form of 2FA.

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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.

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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.

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The main reason for the Trezor vulnerability is that it does not have built-in multi-signature functionality, so its multi-signature implementation is to support Electrum extension. This led to an attack on electrum, and Trezor was affected.

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Attackers reportedly created their own Electrum servers, which hosted the attacked version of Electrum in order to implement the attack. When the user will be vulnerable.

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The Healthy Security Lab is concerned that Nearly 250 bitcoins have been stolen in a recent hacking attack on an Electrum wallet. This attack, confirmed by Electrum, involves creating a fake version of the wallet to trick users into providing password information. Electrum responded on Twitter that "this is an ongoing phishing attack on Electrum users and advised users to download wallet apps from the official website" and that The Healthy Security Lab advised users not to install an unknown source of Electrum wallets to avoid being tricked.

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E-Cash is a forked version of electrum wallet, which is a simplified payment verification (SPV) wallet for Bitcoin cash. Electronic Cash is available in desktop and mobile versions for Windows, OS X, and Linux systems.

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When Electrum wallets are synchronized with malicious servers, they are instructed to "update" clients provided by hackers, resulting in the loss of assets contained in older versions. Previously, in December 2018, Electrum.

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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.