How do I update it?
uninstall the current version of ublock, and add the new version through the Mozilla extensions website, ublock 1.25.0 is available
Will I lose my settings?
unknown, but i think yes as you are uninstalling the extension and installing the new one
You can backup your ublock settings then import them . But it should just update, mine updated yesterday.
On Firefox you should get a notification and then just accept.
about:addons the cogwheel menu also has “Seach for updates” option that I would try before reinstalling an extension. I am using Firefox in Finnish so my translations back to English may be weird.
Already done, thanks!