The Daily: Electrum Users Targeted by Hackers, Huobi DM’s Daily Volume Exceeds $1B

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Electrum developers have confirmed reports of an attack against the popular cryptocurrency wallet. Also covered in The Daily, Huobi Derivative Market’s daily trading volume has reached $1 billion, and one of the founders of Brazil’s leading crypto exchange Foxbit has died in a car crash. Also read: UFC 232 to Have Official Crypto Partner, 5% of Israelis Use Bitcoin Electrum Developers Scramble to Stop Phishing Attack Users of the Electrum bitcoin wallet have been targeted in a new phishing attack, the project’s developers confirmed on Twitter. The team notes that the wallet’s official website is electrum.org and warns against downloading the software from any other source. The attack, which began about a week ago, has been conducted through malicious servers. When asked to broadcast a transaction through a legitimate Electrum wallet, these servers reply with an error message, directing users to download a fake ‘security update’ from an unauthorized Github repository. At startup, the malicious software asks users for a two-factor authentication code, an unusual request as the 2FA codes are needed only when sending funds. The app then uses the code to transfer the stolen digital cash to addresses controlled by the attacker. Electrum is one of the most popular cryptocurrency wallets with support for major coins such as bitcoin core, bitcoin cash, litecoin, and others. According to a report by Zdnet, the unknown hacker or hackers have so far managed to misappropriate over 200 BTC. Electrum developers released an update, version 3.3.2, after they were notified of the…
Source: The Daily: Electrum Users Targeted by Hackers, Huobi DM’s Daily Volume Exceeds B

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