According to American social news aggregation, web content rating, and discussion website Reddit, video-sharing platform YouTube purportedly ran a malicious advertisement for Bitcoin (BTC) wallet Electrum by mistake. Reddit post, which stated that viewers interested in the advertisement were redirected to a malicious link using a common scamming method called typosquatting or URL hijacking.
In Reddit, registered members submit content like links, text posts, and images, which are then voted up or down by other members. Reddit runs as a platform for communities to discuss, connect, and share in an open ecosystem, home to some of the most authentic content anywhere online. According to a Reddit user, who warned the public regarding the promotion of a malware version of Electrum. In this regard, tech-centric news site The Next Web recently reported that Google, which owns YouTube, has since taken appropriate actions against the advertisement. Furthermore, as recently reported that users of Cryptocurrency wallets Electrum and MyEtherWallet claimed they were facing phishing attacks. One of Reddit’s user found that a phishing scam tries to steal sensitive data from Electrum customers was posing as a security update.
Afterward, Redditor exa61 issued a picture of a system message, purportedly from Electrum wallet, which requires a security update to Electrum 4.0.0, while the latest version of the wallet at the time was Electrum 3.3.3. Electrum then issued a warning on their site that notifying its buyers to not obtain application updates from other sources.