Electrum user loses $32,000 to a vulnerability

Fraudsters have once again siphoned funds from an Electrum Bitcoin wallet user. The loss amounted to $32,000.

🚔 A payment of 2.042 #BTC (32,876 USD) was just made to a confirmed Malware scam!

ℹ️ The receiving address is used by the Electrum malwarehttps://t.co/0mEz08N5kF

— Whale Alert (@whale_alert) November 13, 2020

According to Whale Alert, on November 13 a transfer of 2 BTC was sent to one of the hackers’ confirmed addresses.

The address has been in use since mid-2019. In this period, more than 106 BTC ($1.7 million at current rates) were sent to it.

All victims received a prompt to update the wallet via a pop-up message. After installing it and entering a one-time password, funds from the user’s balance were transferred to the attackers’ address.

Earlier, cybercriminals stole more than $23 million in Bitcoin using a fake Electrum wallet update. The attackers have been exploiting the vulnerability since at least December 2018.

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