Electrum wallet servers facing major DoS attack

13 Apr, 2019
by David Robb
Electrum wallet servers facing major DoS attack

Servers for the Bitcoin wallet Electrum are currently facing a large-scale DoS (denial of service) attack. A huge number of bots have been using phishing techniques in an effort to steal users' BTC.

The hack was first reported towards the end of last month, as almost $1 million worth of BTC was stolen from users who entered details into a fake version of the software. Electrum made an official announcement via its Twitter about the DoS attack a few days ago, with advice to users on how to proceed.

Read more: Phishing attack on Electrum wallet sees over $900K in Bitcoin stolenYouTube runs Electrum wallet ad that directs users to malicious site

The hack is apparently being carried out by a large botnet consisting of over 14,000 computers and 25,000 IP addresses. There is a blacklisting procedure now set up to hopefully prevent any further losses.

A security researcher with knowledge about the issue told TheNextWeb that the "total amount stolen is in the millions of dollars so far, with a single person alone losing almost $140,000, based on our analysis. The DoS attacks are a new level, which only began about a week ago. People have seen 25 Gigabits per second worth of traffic being flooded at community run servers."

Read more: Hope, panic, anxiety? Where is Bitcoin in this current market cycle?

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