Electrum wallet

Marta Radecka asked 6 months ago

I’ve got a question about electrum wallet. I just upgraded my wallet to 3.0.5 version. I installed a new version, but the old one is still on my computer. Is there still security risk if I keep old version on my computer, but use only new one? Is it safe to just delete the old version? Should I do anything before deleting? If yes, please could you tell me what to do step by step how to do it? Also, should I change passwords? I would be very grateful for the answer.
Thank you,
Kind redards
Marta Radecka

1 Answers
Steven Hay answered 6 months ago

Hi Marta,
Well, it depends. Did you send your coins from your old wallet to your new wallet? As in, do the wallets have different private keys? If so, meaning the old wallet is empty and all coins are in the new wallet, then you should be safe from the vulnerability.
However, if both wallets are sharing the same coins, then yes, the old wallet will remain a point of vulnerability. Usually when upgrading Ethereum, the installer will overwrite the old version with the new version but it sounds like in your case it installed the new version instead and left the old one…
Honestly, I think the best move would be to get a hardware wallet and create a new Electrum wallet based on the hardware wallet. This will offer far greater protection of your private keys than the Electrum wallet alone.
If you explain the situation – both wallets sharing the same coins vs. all coins in new wallet without any shared addresses – then I’ll be better able to help you.

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