Have you ever lost funds using electrum?

Lucius

legendary

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Quote from: BlackHatCoiner on July 03, 2020, 03:09:33 AM

Have you ever lost by hackers?

Just use forum search option with keywords "electrum, stolen, hacked" and you'll find dozens of threads by users who have become victims in one way or another. This was especially pronounced when someone took advantage of a vulnerability in Electrum itself and displayed a false message, which deceived many to download fake Electrum.

Electrum is safe to the extent that we use it wisely and correctly. Even if we follow the safety instructions, verify the signature and install Electrum the responsibility must not stop at that step. Making sure that the device on which we use Electrum is virus/malware free, and that the backup is properly secured is also a part that should not be neglected.

Nonetheless, I think most will agree that Electrum as a hot wallet is not for storing large sums. If someone has a $1000 + worth of BTC, then I guess they can pay a few tens of dollars for a higher level of security (hardware wallet).

pooya87

legendary

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Quote from: BlackHatCoiner on July 03, 2020, 03:09:33 AM

If you turn of internet connection for example, generate your addresses and then uninstall electrum.

that doesn't do anything except giving you a false sense of security.
for example you could have been a victim of a phishing attack and have a malicious software pretending to be Electrum. installing that then turning of internet connection will result in generating the same malicious wallet and losing your coins all the same.

the correct way has been said many times already so here is a summary the mandatory steps:
1. finding and downloading the correct source code (to compile on your own) or finding the correct developer's PGP public key utilizing Web of trust.
2. downloading the source code or the compiled binary depending on which route you chose in step 1
3. going on a clean and air-gap computer (usually through a live Linux).
4. depending on step 1&2 (if the compiled version was downloaded instead of source) verifying the signature with the pubkey
5. installing the wallet and generating the key(s) and creating backups.

BlackHatCoiner

legendary

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Farewell, Leo

Have you ever lost by hackers? If you've been a victim, then it would be a reason to be aware of our funds, but I don't think that it's that easy to happen. If you turn of internet connection for example, generate your addresses and then uninstall electrum.

But if you've ever lost, it would be nice to post it here, so we can have a different perception.

Topic: Have you ever lost funds using electrum? (Read 157 times)