The short version
- Score: 2.4/5, ranked 17 of 17 wallets we rate
- Strongest: Cost (5.0/5)
- Weakest: Features (1.2/5)
- Source code: open source
This review is generated from public evidence. Every point below links to the fee page, license, audit or report it came from, and the same rules score every wallet we cover. Evidence was last checked on Sep 30, 2026.
Blocklr score: 2.4/5
| Category | Score | Weight |
|---|---|---|
| Security | 2.1/5 | 40% |
| Features | 1.2/5 | 20% |
| Backup and recovery | 3.3/5 | 15% |
| Usability | 1.9/5 | 15% |
| Cost | 5.0/5 | 10% |
How Electrum earned its score
Security: 2.1/5
| What we checked | Points | Why |
|---|---|---|
| Open source | 3 / 3 | Source code is fully published. source |
| Key protection | 2 / 3 | Can sign with a hardware wallet. source |
| Published independent audits | 0 / 2 | No published independent audit found. |
| Incident record since 2019 | 0 / 4 | 1 incident since 2019. |
Features: 1.2/5
| What we checked | Points | Why |
|---|---|---|
| Networks | 1 / 3 | Supports Bitcoin. source |
| Capabilities | 1 / 5 | Offers multisig. source |
Backup and recovery: 3.3/5
| What we checked | Points | Why |
|---|---|---|
| Recovery options | 2 / 3 | its own documented seed format, passphrase. source |
Usability: 1.9/5
| What we checked | Points | Why |
|---|---|---|
| Platforms | 1.5 / 3 | Works with Android, desktop. source |
| Support | 0 / 1 | Support channels could not be confirmed. source |
Cost: 5.0/5
| What we checked | Points | Why |
|---|---|---|
| Price or swap fee | 3 / 3 | Free, with no in-app swap fee to pay. source |
Track record since 2019
Incidents
- 2019 · App exploit: Electrum versions before 3.3.3 displayed server-supplied error messages as rich text. From December 2018 and through 2019-2020 attackers ran malicious Electrum servers that showed fake 'update' prompts leading to malware; Malwarebytes counted over 771 BTC (about $4 million) stolen by April 2019, along with a botnet DDoS against legitimate Electrum servers. The Block (Oct 2020, citing ZDNet) put total losses at about $22 million. Fixed in 3.3.3/3.3.4; users on old versions remained exposed. The sources report no reimbursement. About $22 million taken; customers were not reimbursed. source
Who Electrum fits
A good fit if
- You want a free wallet for everyday use.
- You want code that anyone can inspect.
- You plan to pair it with a hardware wallet later.
Think twice if
- Its record matters to you: users lost funds in a 2019 incident.
- You hold coins other than Bitcoin.
Goes to the official site. Blocklr earns nothing from this link.
Frequently Asked Questions
Is Electrum open source?
Yes. Electrum's source code is published. Client source published under the MIT license. No closed components identified.
How much does Electrum cost?
Electrum is free to download. Free, with no in-app swap fee to pay.
Has Electrum had a security incident?
Yes. We found 1 incident since 2019; the details and sources are in the track record above.
How is Electrum's score calculated?
Electrum scores 2.4/5. The score is calculated by fixed rules from public evidence, and the same rules apply to every wallet. No company can pay to change it.
About this review
Blocklr has no affiliate, advertising or sponsorship deal with Electrum or any other platform, so nothing here was paid for. Scores come from the rules in our review methodology. A fact we could not confirm scores as the lowest tier, which can make a score lower than it deserves. If something is wrong or out of date, tell us and we will check the source and correct it.