Topic: Importing trustwallet to Electrum advisable? (Read 269 times)

Okay..

Thank you sir, yes I understand though since I am not that too familiar with Electrum wallet I have to use the importation wallet for the main time, I have seen all the contribution and somehow I'm even scared to further use the old wallet but just as I said earlier I have to familiarize myself a bit with this new Electrum before I may finally change my mind to generate new address from the Electrum wallet.

From the rating above I believe I can now confidently import wallet to Electrum at least I have gained a new knowledge from you guys.. thank you ♥️♥️♥️

Yeah, the legacy/nested segwit/segwit address types can indeed create confusion, sorry I didn't think to mention it.  As long as you can see your transactions then you can rest assured that you imported the seed correctly.  It doesn't sound like you had multiple bitcoin accounts in your TrustWallet, so you don't have to worry about custom derivation paths.

I'm in agreement with hosseinimr93; importing the existing seed phrase into a new wallet client software doesn't do anything to make the seed phrase more secure.  If the seed was compromised by the old wallet, your funds are still vulnerable.  Now that you have control of the funds through your Electrum wallet, I suggest you use Electrum to create a new wallet with a new seed phrase, write the seed down on paper, make copies, secure the copies in safe places, then move your funds to the new wallet.

I want to stress again the importance of verifying your Electrum download.  Don't get complacent!  Many Electrum users have complained about being hacked in recent months.  Being that it's one of the most popular light clients for bitcoin, it's the one that most hackers attack.  

Good luck on your adventure with Electrum, it really is the best light client I've ever used.

Yes, your importation was done correctly, so it is now time to do away with the seed phrase and all associated with Trustwallet, by creating another wallet on Electrum with a new seed phrase and send all your funds into it.

It is easy to do so, just click create wallet->enter wallet name since it isn't the default wallet->standard wallet->create new seed, then you make two backups of your seed phrase and store it safely, once you have created this wallet, you can take any of the receiving address and send all your funds associated with Trust Wallet seed into it.

Electrum is open source and recommended, but it isn't just safe in and of itself, the user has to practice necessary operational security, so if your funds are big, generate your electrum seed phrase and keys on an air-gapped device and use another one for watching only. Even if you'll use electrum on an online device for small funds, you still have to be careful with links you click, websites you visit, etc.

As transactions are shown in history tab, you have imported the wallet to electrum successfully.
Just note that as already mentioned, it would be better to create a new wallet and send all the fund to that. With importing your wallet from trustwallet to electrum, you don't make your wallet more secure.

Well I wouldn't have uploaded this here but at some point was getting confused and keep trying over and over before I got it right..



In this steps 1 I actually select import bitcoin address or private keys but on getting there I was lost I couldn't continue, I was only seeing it as a watch wallet meaning I can't do my transfer which I was hoping on all the reply's maybe someone would have mentioned it for me to process it. Usually I have never use this wallet before nd is just like learning a new thing from square 1.



After I clicked there that was when I saw the import options and then another thing holding me again, pasting seed phrase the next wasn't active..
I then have rush down this thread again to read some reply from few users and I saw where @OmegaStarScream said BIP39
Then I quickly run back to click it. Thank you sir!





Here is when I have another challenge since non mentioned this for, so I was doing trial by error and finally I clicked on the native segwit then lastly below was the results I saw and my transactions shows up.
 


Reason I posted it back here for me to confirm from you guys if actually I did the right thing?
I know is very easy for you guys buh for me as someone who is trying to explore new wallet is a bit not clear for me so I have to post here for confirmation and as well to say thank you all at least I have learnt new thing @OmegaStarScream @Charles-Tim @khaled0111 @BitMaxz @BitcoinGirl.Club @o_e_l_e_o @DireWolfM14. Please confirm if is the right importation of wallet or is there any mistake I have made?

I wait for your feedback sir.
Although I didn't start the whole process from the first day, was little busy so just decided to carry out the importation today.

This is a good thing. You don't want to risk your valuable assets (bitcoin) in a wallet which is filled with junk code and other trash in order to support worthless shitcoins, and you certainly don't want to have valuable assets in a hot wallet that you are using to link to poorly written smart contracts, shady exchanges, and the like. Use a good open source wallet for your bitcoin, and keep your shitcoins somewhere else.

Unstoppable is a reasonable choice. Note, however, that although almost all previous versions have been reproducible from the source code provided, the most recent version is not. This is unlikely to be a major concern, but it is worth noting. See https://walletscrutiny.com/android/io.horizontalsystems.bankwallet/ for more details (and click on "Show Older Reviews").

There is a new multi-coin that you may want to look into: Unstoppable.money.

I have been testing it for the last few days, and I don't have any complaints. The wallet is completely open source[1], the only downside right now is that it doesn't support Dapps so if that's what you're into, this may not be for you.

[1] https://github.com/horizontalsystems

I rather use the Mycelium wallet than the TrustWallet which you can easily use it using your phone.
This was what I thought before about Electrum, I thought I can able to sign message using my phone but they had a different interface compared to a desktop wallet.

It's a wise decision if you'll transfer your remaining balance quickly.
I think that the news above said was similar to this.
https://blockchain.news/news/trust-wallet-discloses-security-flaw-resulting-in-170k-loss

Trustwallet can not sign a message. If comparing Trustwallet with other bitcoin wallets, it is one of the worst wallet that I know. Electrum desktop can sign a message, but mobile Electrum can not. Bluewallet can also sign a message.

Yes, but only your bitcoin will be imported.  I've never used Trustwallet, but if I'm not mistaken it's a multi-currency wallet.  You cannot import ETH or "smart-chain" tokens into Electrum.  If you own any such assets you'll have to use other wallets for those tokens.


I agree with the others who've indicated mistrust of a closed-source wallet.  I suggest you use only open-source wallets.


I've PM'd campaign managers with requests to change addresses, I always include a signed message.  Use the address currently registered in the campaign to sign a message to the CM, that goes a long way to reduce any concerns that your account has been hacked.  If TrustWallet doesn't have the capability to sign messages, you can import your TrustWallet seed into Electrum, which will allow you to sign a message with that address.

Or even better, migrate to an actually reputable open source wallet, and not this Binance owned closed source spyware trash.

https://twitter.com/TrustWallet/status/1649699428733947906?cxt=HHwWhMDQvfq49OQtAAAA

https://community.trustwallet.com/t/wasm-vulnerability-incident-update-and-recommended-actions/750786


In short they say, Old accounts are still vulnerable to this hack.

link please? I still have some trust wallets that have about $1xxx in balance.
Is it a kind of physical attacks or is it a defect inside the wallet code.
I am active these days and I have not heard such news.

Just a few days ago Trust wallet was found to contain a critical vulnerability which resulted in it generating private keys in an insecure manner, leading to funds being stolen.

Malware can easily steal a seed phrase or private keys, and an attacker which now has access to an active wallet may choose to wait before draining it in the hope the user deposits more coins.

Maybe you undermine the capabilities of malware. It can steal pretty much any unencrypted information you have on your device once it's well executed as a program. If no one had physical access to his PC, then there is beyond reasonable doubt that the information or the seeds were accessed using malware.

I have read the details of what happened, although the wallet has nothing to do with it, but I am surprised how the hack happened, Juler12 says that he made a deposit and the money was not withdrawn, meaning that the malware is not responsible, perhaps the hacker was able to access the password with wallet file or was able to reveal the private key .
From my reading of the details, it seems that Juler12 dealt with indifference with what happened, so he is responsible.

This is incorrect.

Trust wallet is closed source. We have absolutely no idea how secure seed phrases generated by Trust wallet are. They could all be generated in a pre-determined way known to some programmer at Trust wallet. They could be storing every generated seed phrase on a centralized server. They could be transmitting seed phrases across the internet. We simply don't know. You should assume that any seed phrase generated by a closed source piece of software is compromised. OP should generate a brand new seed phrase on better wallet software and send his coins across.

icopress is a very reasonable person. I can't image they will have any issue updating an address on a spreadsheet.

This had nothing to do with Electrum. He simply had malware on his computer. Any wallet on his computer would have been equally at risk.

If you want to avoid this risk, then you need either an airgapped wallet or a hardware wallet.

Electrum is an open-source wallet and there's nothing hidden from the users. The source code has been reviewed by many people and no vulnerability has been detected. If someone got hacked, that's not electrum's fault.
Take note that any online device is always prone to hacking. If you want to be completely secure, you must use electrum on an air-gapped device.

Trustwallet is a closed source wallet so we can't know for sure whether they can know your seed or not so as long as you don't have an answer, it's better to assume they have access to your private key and then generate new seeds using Electrum (from a clean offline machine, and it is better to be airgapped) is the best solution.

using a hardware wallet is the best option if you want to manage multiple assets besides Bitcoin.

Okay..
Thank you, I was actually anxious to know these outcomes...
...


I think it was from one of your post I red it wasn't that recommendable using trustwallet but I couldn't find where exactly I got that from which also kept me in a worry till date despite using trustwallet I feel unsecured


I was actually scared of totally start using a wallet I am not familiar with and I also came across a post from Juler12 where he said of his Electrum wallet being hacked and almost all his funds were stolen, in other hand this also brought tension to me for a total changing of wallet which resulted me asking all these questions over here.

Yes I know that, as a matter of facts I have already downloaded the Electrum in my pc but needs some guideline so I won't be out of  guide, you know what I mean. Anything that involves money we don't need to be over careless most especially keys and seed phrase grammar I do try as much as possible to avoid them.

Importing the wallet on Electrum using BIP39 is already answered.

My question is, since you want to get rid of the old wallet then why would you bother to import it on Electrum? Importing it on Electrum does not mean it lost from Trustwallet. You are using the same wallet but with a different software.

It does not cost you to create a new wallet and keep the new seed safe then transfer the coins to the new wallet created with Electrum.

It would be safer if you would create a new wallet on Electrum and sweep all keys from the trustwallet to transfer your funds because as others said above trustwallet is a closed source we can't guarantee the safety of your wallet if it was generated from a closed source wallet.

Another reason is that you can generate your wallet on Electrum offline/cold storage while sweeping the trustwallet into an online Electrum(another device with an imported public master key). You may need to use the iancoleman BIP39 tool to get the public master key.
This would be the best option to make sure your wallet is safe.

It depends on why you believe trustwallet can't be trusted.
If you don't trust its developers or think it has bad security and a malicious person can get access to your seed/private keys, then importing your wallet from seed into Electrum or any other wallet is not going to help.
If someone knows your wallet seed, he can steal your coins. It doesn't matter which wallet you use.
The best thing to do is to create a new wallet with Electrum and send your coins to it.

Yes. But not advisable nor recommendable because Trustwallet is a close source wallet and you do not know how the seed phrase is generated.

Advice
Send the money from Trustwallet to an address generated from the seed phrase that is generated on Electrum
Generate new wallet from Electrum. PM your campaign manager that you want to change your payment address.

Online wallets are not that safe and secure. There are options that you can go for like, wallet on airgapped device, multisig wallet or 2FA wallet. Or you can buy a reputable hardware wallet.

1. Yes you can do that. Make sure to select BIP39 when importing the seed.

2. Only if the devices you used to generate the wallet are.

3. Like if they were to suspend their services? Yes. Your funds will be just fine.

Keep in mind that trustwallet is a closed source wallet. There's no way to know for sure what's happening behind the scenes.

Hello all, good morning good evening and afternoon depending on the country you are reading this post from.
I just have a little question to ask in other to help me secure my funds very well., there was a post I was reading that says using trustwallet to store funds is not that recommendable to hold but for long now I have been using trustwallet though I barely leave my funds over there ones I was paid from sig i do send out but currently I want to change my perspectives to start holding. I don't know if these questions already asked..

1) My question is, can I also use this same trustwallet and import to Electrum downloaded to my personal laptop?
2) If Yes, then is my funds secured since the key phrase were generated from trustwallet?
3) If something happened to trustwallet entirely would my imported funds to Electrum be affected, please I really need to know about all this since i am not a fan of Electrum just trying to see if i could get used to another wallet aside Trustwallet app.

Please if this question doesn't belong here kindly point out where it should be it will be a thing of joy to me moving it over there.
Thank you.