Electrum Pro developers caught in fraud

Posted 10 May, 2018

The Electrum wallet developers have released facts proving that the simulator Electrum Pro is actually a scam and steals seed passwords.

According to the news report, the post on GitHub has detailed instruction for decompilation of Electrum Pro. For reference, this waller appeared in the market this March . Moreover, it also used the brand of other company without any license. 

As the study shows, the Electrum team found that certain lines of Electrum Pro code has the function to copy seed passwords and send them to electrum.com. With seed passwords, the unfair developers can get acces to content of bitcoin address binded to the every particular wallat. As a result, they can easily withdraw assets from the accounts.

As commented the Electrum spokesperson, they already warned users not to deal with Electrum Pro, though the team did not have black-and-white facts.

"Note that this post was looking at only one of the Windows binaries distributed by "electrum dot com", but it is safe to assume that the other Windows binaries are malicious as well," they added. 

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11 May, 2018 10:56

← Ripple: first results of XRP trial projects

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Ripple: first results of XRP trial projects

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10 May, 2018 14:21

US dollar trims gains but remains generally strong →

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US dollar trims gains but remains generally strong
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