A user lost $ 16 million in bitcoin by downloading an old version of the Electrum wallet A GitHub user under the nickname 1400BitcoinStolen told how he lost 1,400 BTC ($ 16.25 million) by downloading an old version of the Electrum bitcoin wallet. He left his comment in a thread, started in February 2019, discussing the problem.

User lost $ 16 million in bitcoin by downloading the old version of the Electrum wallet

GitHub user 1400BitcoinStolen told how he lost 1,400 BTC ($ 16.25 million) by downloading an old version of the Electrum bitcoin wallet. He left his comment in a thread, started in February 2019, discussing the problem.

Hackers who exploited this vulnerability placed a malicious version of the wallet on their own servers, after which, using a botnet attack on full-fledged nodes, they tried to connect users' wallets to their servers and offered them to update the software, thus spreading the malware. After the issue attracted massive community attention and resulted in the loss of hundreds of thousands of dollars of assets, the vulnerability was addressed by the developers, but it is still contained in older versions of the wallet, one of which was downloaded by the author of the post.

Electrum developer Thomas Vogtlin then urged all users to install the update from the official website, however, as practice has shown, users who have not accessed their wallets for a long time may not have known about it. All versions of Electrum older than 3.3.4 are considered vulnerable.

“I had 1,400 BTC in my wallet and I haven't opened it since 2017. Foolishly, I installed an old version of the wallet. I tried to send about 1 BTC but couldn't do it. There was a pop-up message saying that I must update the security before proceeding. I installed an update that immediately triggered the transfer of all my coins to the attacker's address, ”wrote 1400BitcoinStolen.

By now, hackers are already actively splitting the assets stolen from the user into smaller amounts. Binance CEO Changpeng Zhao Says They Blacklisted Attack-Related Addresses.

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