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Popular online Bitcoin wallet Electrum has warned against “Electrum Pro”, a competitor which has appeared under the Electrum.com domain. Electrum Pro, they say, is “very likely bitcoin stealing malware”.

Electrum expanded on its Twitter warning by saying that “scammers” had bought electrum.com, a vacant site which had previously been used to sell energy drinks and food. According to Electrum Technologies, “there is no ‘Electrum Pro’ product at this point” and that if “anyone happens to see Google Adwords linking to electrum.com” they should report it to Google as fraudulent. It also confirmed that it would be reporting the site to its hosts as malware.

Apparently Electrum Technologies had made “several attempts” to buy the .com domain, but “the asking price was absurdly high and outside of the budget of an open source project”, leading to the current confusion.

Electrum confirmed that to its users that the original product had not been compromised and that they should “keep using the legit site https://electrum.org and the legit product “Electrum” (no pro) and verify signatures like shown in the thread

The people behind “Electrum Pro” are currently unknown, though Reddit user lucaslofgren appeared to take responsibility, describing it as “fork of Electrum.org” which will “improve the user experience”. He insisted that the “program is not malicious” and it was “undergoing a public security audit” which will be released soon.

Lucuslofgren also stated that the endeavor had “literally just started and have not had the chance to introduce ourselves before being called out a scam which is very disheartening.”

However, Electrum.org have pointed out that on the about page there is no real verifiable information or github histories and that ElectrumPro B.V. does not exist in the company registers of Sweden or the Netherlands. Users are warned to be careful and are reminded “to use bitcoin.org for guidance in choosing which wallet to use for Bitcoin transaction”.

Image From Shutterstock

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