Electrum Phishing Hack Raises Bitcoin $ 22 million

Bitcoin thieves amass a fortune by successfully tampering with an Electrum wallet and catching a user and stealing 1,400 BTC ($ 16.1 million) from them.

According to the ZDNet article, the criminals developed a “type of attack that has been used several times in the past two years” and collected 22 million US dollars.

On the Bitcoin Abuse Database website, a number of users have posted similar complaints about a wallet holder to bc1qcygs9dl4pqw6atc4yqudrzd76p3r9cp6xp2kny (data visible here via Blockchain.com).

“Electrum version 3 requests a seemingly authentic update within the program. Without the update, no transaction is possible. Electrum 4.0.0. Exe downloaded, unsigned and marked as malware by Avast As a result, approved transactions will be redirected to the above address and the Amount corrected for the entire contents of the wallet (minus transaction fees). Please boycott this address. ”

Source: www.bitcoinabuse.com

The wallet holder in question received over 1,509 BTC, but apparently it was distributing its cryptos, sending almost the same amount to other addresses.

ZDNet said it had identified several Bitcoin accounts from which criminals had collected stolen money in attacks in 2019 and 2020, adding that the most recent attacks occurred “recently, in September 2020”.

Users claim to be faced with a pop-up asking them to download a software update for the wallet in order to complete transactions. This is part of a phishing attack that ultimately tricks users into sending their money to what appear to be fraudulent addresses.

The same user who claims to have lost 1,400 CTB in the update scam commented on the issue on Github.

“Electrum has no exploitable bug, it cannot be remotely controlled. It has no open security hole that could lead to loss without user action. Electrum was not hacked any further.” “or” operated “that Gmail, Yahoo, Outlook and all financial institutions (banks, etc.) as well as various other online services are not daily.”

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