Fake wallet update steals 1400 Bitcoin ($16 million) from Electrum user

Because of how peer discovery works in Electrum, there is not much we can do for old versions, since we can’t prevent them with 100% success rate to run into a malicious server. This is because, unlike other lightweight wallets, Electrum decided to not have only few harcoded servers that will be responsible for the privacy of all users, and act as single point of failure, but instead allow users to run their own servers or use servers that they trust.

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