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In one of the shocking incidents a Github user informed losing about 1400 Bitcoin (BTC) due to a ELECTRUM Wallet update which in fact was a malicious security update software running on the older versions of this wallet. The user was using an older version of Electrum Wallet & while installing the so-called security update led him to lose all the bitcoins to an unknown hacker.
The details of the transaction history recorded on Blockchain:
(Image:-Blockchain.com)
(Image:-Blockchair.com)
- A user '1400BitcoinStolen' unknowingly installs a malicious Electrum Wallet security Update losing all his 1400 Bitcoins.
- The total value of 1400 BTC stolen was worth $16 Million USD in current market price.
- Electrum Wallet Version 3.3.4 and older are vulnerable to phishing attacks where updates are malicious programs run specifically to target user funds withdrawal into the hackers wallet.
- Electrum.org has warned users, "Do not download Electrum from another source than electrum.org, and learn to verify GPG signatures."
Thanks for Reading!
