diff --git a/electrum/transaction.py b/electrum/transaction.py
index 908bda7af..af7789d34 100644
--- a/electrum/transaction.py
+++ b/electrum/transaction.py
@@ -564,8 +564,12 @@ class Transaction:
             if marker != b'\x01':
                 raise ValueError('invalid txn marker byte: {}'.format(marker))
             n_vin = vds.read_compact_size()
+        if n_vin < 1:
+            raise SerializationError('tx needs to have at least 1 input')
         self._inputs = [parse_input(vds) for i in range(n_vin)]
         n_vout = vds.read_compact_size()
+        if n_vout < 1:
+            raise SerializationError('tx needs to have at least 1 output')
         self._outputs = [parse_output(vds) for i in range(n_vout)]
         if is_segwit:
             for txin in self._inputs: