Bitcoin Future: electrum wallet from qtums website

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The Bitcoin desktop wallet client Electrum has released a beta version 4.0, which adds support for several important updates such as the Lightning Network. This version is nearly a year away from the previous version of Electrum 3.3.8 (July last year)

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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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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 Wallet is fast and has 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.

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The weakness of the wallet app, the Electrum wallet network can join the server, which can apply pop-up warning messages to the wallet. The attack began on December 21 at GitHub.

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Electrum is a world-renowned Bitcoin light wallet with a long history of multi-signature support and a very broad user base, many of which like to use Electrum as a cold wallet or multi-signature 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 update prompts through a malicious ElectrumX server. This update prompt is very confusing for the user, and if you follow the prompt to download the so-called new version of Electrum, you may be tricked. 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. In this slow fog remind users, transfer, need to pay special attention to whether the destination address is replaced, which is a very popular recent way to steal money. It is also recommended that users use hardware wallets such as Ledger, and if you pair it with Electrum, although the private key does not have any security issues, you should also be alert to the replacement of the destination address.

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A step is usually skipped between the hardware wallet and the entire node: the Electrum wallet not only connects to the hardware wallet, but also provides a wide range of features. Of course, this is more important for a technician or if you want to be a technician. After you start the Electrum application, it takes a few seconds to finally open your wallet. Second, you feel like you're back in the program design of the last decade.

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Electrum-LTC is a simple but powerful Litecoin wallet. Like its predecessor, the Electrum-Bitcoin wallet, the open source wallet is available on GitHub and anyone can view or upgrade the code.