Electrum 4.6.0 before 4.7.2 contains an authorization bypass in the external plugin loader, which executes a plugin's __init__.py module when the plugin is marked enabled in the config file, without verifying its plugin-password signature. A rogue local process with write access to the Electrum data directory can place plugin code in the plugins/ folder and mark it enabled, causing arbitrary code execution inside the Electrum process.