Electrum Malware Drains $32,000 In Bitcoin: Report

An Electrum malware has just scalped $32,000 in bitcoin since the payment was sent to an address that was used by the malware. In today’s cryptocurrency news, we are reading more about it.

The electrum malware scam struck again where 2 BTC was sent to a known scam address. Malware refers to the collective of malicious software that includes ransomware and spyware. It is designed to cause plenty of damage to infected computers or to gain access to private networks. Now, the address using a known Electrum wallet exploit claimed its new victim.

🚔 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

The 2 Bitcoins were sent to the confirmed malware scam address and according to Blockchaian.com, the transaction cost a few about 0.001 BTC or $27. The address that received these funds is noted as being used in the Electrum malware scam. The address made over $1 million since its inception back in 201. During the investigation from Malwarebytes Labs, it was discovered that one exploits allowed hackers to subvert users from legitimate nodes into the malicious ones controlled by the hackers themselves. At that point, the users are asked to install a “security upgrade” which downloads the malware onto their systems.

When it comes to upgrading, it sometimes best if you do but there are times when you’re damned if you did.

In our recent news on Electrum, we saw that Multiple Electrum users claimed that their coins have been stolen after the reports of a hack attack on the wallet that resulted in a 1400 BTC theft. The details of a larger hack hit headlines on August 30 when another one from the Electrum users reported 1400 BTC was missing from his wallet. The thieves seem to have utilized a Binance account based on the data from the cryptocurrency company N-Chain. Before the attack, the victims reportedly had not used the wallet in about three years. Using the data from Crystal Blockchain, analysts tracked the same Binance wallet and found out that it was associated with 5 BTC withdrawals from January in 2018.