Crypto Wallets Electrum and MyEtherWallet Experience Phishing Attacks

by | Feb 6, 2019 | Cryptocurrency, Cryptocurrency News

Cryptocurrency wallets | Crypto Wallets | Electrum | MyEtherWallet | Phishing attack

Users of cryptocurrency wallets Electrum and MyEtherWallet have been receiving phishing emails, that attempt to obtain sensitive data like users’ personal or banking information by illicit means.

Under a phishing attack, the attacker disguised as a trusted entity and sends the user a message or an email that contains a  malicious link. As and when the user clicks on the link, they either asked to enter their personal data or new window initiates the installation of malware.

When a Reddit user, exa61 discovered that a phishing scam was posing as a security update in an attempt to steal sensitive data from Electrum customers. The user brought the matter into the forefront by posting the picture of a system message, allegedly from Electrum wallet.

The system message asks the user to make a security update to Electrum 4.0.0. However, the platform does not have any 4.0.0 version, its latest and current version of the wallet is Electrum 3.3.3. The platform took to Twitter, informing its users about the scam.

MyEtherWallet took also their Twitter account and warned their followers about a phishing email that was sent to users.

“That’s interesting, because this is the second cluster of reports of the same phishing, and the first one was at the end of December 2018. The thief might have 100 GitHub accounts”
A warning was subsequently published on Electrum website, notifying users that:
“versions of Electrum older than 3.3.3 are vulnerable to a phishing attack, where malicious servers are able to display a message asking users to download a fake version of Electrum.”
The cryptocurrency wallet went on to warn its users, to not to download software updates from other sources.

Read more: 20-Year Old Hacker Pleads Guilty To $5 Million Crypto Theft, Gets 10 Years In Prison

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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