The crypto community is no stranger to scams but sometimes fraudsters perform quite extraordinary stunts. Such was the case of Electrum Pro. The culprits behind Electrum Pro claimed it is an upgraded version of Electrum. So far nothing unusual, just some idiots impersonating a renowned Bitcoin wallet service.
The real Electrum service uses .org domain while the copycat was available at .com. The scammers did that in order to trick visitors to believe the project is credible. Now here is the most overwhelming part of the story. If you go to electrum.com you would most likely see the following message:
Due to false accusations from electrum.org, they have ruined our reputation and brand of Electrum Pro. They managed to trick several news outlets to slander us. We decided to go our seperate ways to work on different projects. Our domain ELECTRUM.COM is for sale now with a price of 25BTC, non-negotiable. Contact [email protected] if you are interested.
Wishing everyone the best,
Lucas Lofgren and the Electrum Pro Team
If you try to search the internet about Lucas Lofgren you will find that there isn’t such guy working in the crypto sector. No LinkedIn profile, no public information about the owner of the electrum.com domain. Nothing. While we are accustomed to seeing crypto scams popping here and there this is the first time the fraudsters accuse the real project of ruining their reputation.
The exit scam occurred just days after the Electrum team warned its users that a fake copy is impersonating Electrum’s services. Electrum Pro used a malware that stole private seeds thus making wallets completely unprotected. Detailed information about the malware is available on GitHub.
We remind you to deal whit great caution when it comes to handling your cryptocurrency belongings. Electrum Pro is just another reminder that hackers know no rest. What is more concerning is the fact that some copycat apps make it to Google Play and Apple’s App Store. Do your research before using services that are unfamiliar to you.