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Detail Analysis

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Date:

Status:

Count:

Contributor:

October 12, 2020

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Verified

3

zerofriction.io

Loss Amount:

22,000,000

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Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Wallet

Front-end Vulnerabilities

Extended Method:

Vulnerability software client, fake software updates

Data Sources:

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An investigation by ZDNet revealed that hackers stole $22 million from users of Bitcoin wallet Electrum by enticing users to install fake software updates by setting up their own ElectrumX gateway server. Since 2018, cybercrime gangs have been abusing this loophole to spin up malicious servers and wait for users to randomly connect to their systems. When this happens, the attackers instruct the server to show a popup on the user's screen, instructing the user to access an URL and download and install an Electrum wallet app update. Usually, this update download link is not for the official Electrum website, located at electrum.org, but to lookalike domains or GitHub repositories. If users don't pay attention to the URL, they eventually end up installing a malicious version of the Electrum wallet, which the next time the user tries to use will ask for a one-time passcode (OTP).

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.