1400 Bitcoins stolen in the blink of an eye in a wallet hack

1400 Bitcoins worth more than $16 million were stolen in the blink of an eye in a hack of the Bitcoin wallet Electrum according to a GitHub user ‘1400BitcoinStolen’.

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1400 Bitcoins worth more than $16 million were stolen in the blink of an eye in a hack of the Bitcoin wallet Electrum according to a GitHub user ‘1400BitcoinStolen’.

But who is to blame for this attack? Neither Bitcoin wallet Electrum nor the user are really to blame.

The victim states that they hadn’t used their Electrum software since last time in 2017 and there had been security updates released by Electrum that haven’t been installed yet by the user.

Before they transfer their Bitcoin, they were asked to update the software to resolve any security issues, however, when it was done, the software emptied their wallet by contacting the hacker’s server instead of the Bitcoins. This could have been stopped if they had updated their software when it had been released.

The lesson here is to keep your software up to date and check for updates regularly.

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Cryptocurrency(5)

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Crypto Hack

Bitcoin

Tags

Crypto Hack

Bitcoin