1400BTC Stolen from User, Trace Ends in Russia

1400BTC Stolen from User, Trace Ends in Russia

By Abhimanyu Krishnan | News | 1 Sep 2020


A Russian hacker is believed to have stolen 1,400 Bitcoin (BTC) from a Electrum user’s wallet, according to the victim’s post made on Github on August 30.

  • User says that he had 1400 BTC in an Electrum wallet he had not accessed since 2017
  • The user had installed an old version of the wallet, which then launched a popup asking him to install the new version
  • After installing the new version, the BTC was immediately transferred to the hacker’s address, which N-chain analysis shows was linked to a Binance account
  • The trace ended in St. Petersburg, Russia, though it is suspected that a VPN was used to hide the true location
  • Binance CEO Changpeng Zhao said that the exchange had blacklisted the address; the Binance team added that the address does come from a specific Binance user
  • Other users in the Github thread have reported similar incidents, though there has been no update from Electrum

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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