An ongoing hack attack against crypto wallet Electrum is in the latest blockchain news after a hacker of a group of hackers managed to steal about 250 Bitcoin or close to million dollars according to reports.
Electrum confirmed the allegations and pointed out that the attacks are consisted of creating fake wallets which fools the users to provide password information or the hackers simply setup an entire system of malicious servers.
“If someone’s Electrum Wallet connected to one of those servers, and tried to send a BTC transaction, they would see an official-looking message telling them to update their Electrum Wallet, along with a scam URL,’’ – a Reddit user wrote.
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The users who were affected by the malicious attack can’t log in into their wallets besides their two-factor authentication code so the hackers can empty the entire wallet balance.
According to another Reddit post:
“When I logged on it immediately asked me for my 2 factor code which I thought was a little strange as well as Electrum usually only asks for that when you attempt to send,I kept trying to send and kept getting an error code ‘max fee exceeded no more than 50 sat/B [satoshis per byte], I then restored my wallet on a separate pc and found that my balance had been transferred out in full.’’
Electrum posted on Twitter after the incident happened but made sure that the users understand that there is currently a phishing attack going so the users can proceed with maximum caution.
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