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Scam Alert: ElectrumPro is not an upgrade to Electrum

scam alert

If you are starting a new brand, remember to buy all the domains associated with that name. Electrum is learning this the hard way.

Electrum, a popular bitcoin wallet service, uses electrum.org as its primary web address. “An alleged scammer has since bought the similar-sounding .com domain, which they’re using to mimic Electrum’s services. It’s styled as Electrum Pro, “the world’s most popular bitcoin wallet.”

Electrum took to Twitter to clarify that it does not own electrum.com and that it is likely a ‘bitcoin stealing malware’.

On primary inspection, ElectrumPro leaves no doubt about it being a scam. The website attempts to present their product as an upgrade to Electrum as if it belonged to the same team.

Their website lists 4 team members with broken GitHub links and no other social media profiles. The names do not ring a bell in the blockchain community either. All community links are broken, except for a Twitter account with just one tweet:

It is basically a course in “How to spot a scam 101”.

When a user on Reddit questioned Electrum’s choice of not buying all the main domains associated with their brand as soon as the project went live, a team member replied,We tried. Back in 2012, the owner wanted the price of a house for that domain.”

Apparently, electrum.com was being previously used by someone in the US to sell energy drinks/food. The scammers have either hacked the domain name, or bought it legitimately. If it was the latter, and they did in fact pay the price of a house, then they may be in for a loss — the domain will likely be taken down as soon as scam reports start pouring in.

Published April 6, 2018 — 16:30 UTC