We published several previous articles on the Arab Bitcoin website, which indicated that the Electrum digital wallet was exposed and targeted for fraudulent programs aimed at stealing users’ money.

The latest scam cost an Electrum wallet user 2 bitcoins, or about $32,000.

The malware targeting the Electrum wallet is diverse and varied from ransomware to spyware, all of which are designed to cause severe damage to infected computers or to gain access to the wallet’s private keys.

According to a large and suspicious transaction tracking account, 2 bitcoins were transferred to a fraudulent address:

🚔 batch 2.042 #BTC (US$32,876) Just Made a Confirmed Malware Scam!

ℹ️ The receiving address is used by Electrum malware

Read:The number of active users of the “OpenSea” platform for buying and selling NFT reaches a new record

– whale alert (whale_alert) November 13, 2020

According to the transaction data on Blockchain.com, this transaction cost about 0.001 Bitcoin, or about $27.

The address that received the funds was indicated as the address of a fraudulent user using scams targeting the “Electrum” wallet.

According to Source This title has grossed over $1 million since its inception in May 2019.

Security analyzes and investigations published by Malwarebytes Labs indicate that the exploitation and targeting of the “Electrum” wallet was by notifying users of the need to update, but it was originally a fraudulent update that makes digital currencies transfer to the fraudster’s address instead of the user’s address.

Therefore, in the Arab Bitcoin, we always advise the necessity of caution and caution and keeping encrypted digital currencies through safer options such as cold wallets, and in the case of trading, choosing large and reliable global trading platforms.

Read:Why did the price of Ethereum (ETH) go up by almost 50% in 6 days?

Read also:

Targeting Electrum wallets by hackers in an innovative way

Report: Cryptocurrency trading platforms suffer from security and this is a list of the best platforms