Electrum wallet servers facing major DoS attack

13 Apr, 2019
by David Robb
Hack
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?

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Chepicap is now LIVE in Blockfolio! This is how you receive our latest news in your portfolio tracker!  

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage