Ethereum EIP-7702 New Vulnerability Frenzily Exploited by Hackers, $150,000 Wallet Stolen in Seconds!
On May 24, 2025, a phishing attack exploiting the key proposal EIP-7702 in Ethereum's latest upgrade "Pectra" erupted, resulting in the theft of approximately $150,000 from a wallet. This vulnerability allows ordinary wallets to temporarily activate smart contract functionality, which hackers exploited to design a hidden batch token transfer scam, allowing users to unknowingly authorize multiple tokens to be drained all at once.
EIP-7702 enables wallets to perform complex operations in a single transaction, such as batch transfers and paying Gas fees, but it also opened up new attack vectors. Malicious hackers trick users into approving a "trusted" delegated contract, silently executing batch malicious transfers, leaving victims completely unprepared.
Security firm SlowMist confirmed that the notorious Inferno Drainer hacker group orchestrated this theft. They did not steal private keys but exploited the wallet upgrade feature to legally authorize bulk theft of funds. This covert method significantly increased the success rate and concealment of the attack.
In addition, the frequency of phishing attacks continues to rise, with losses exceeding $5 million in April alone and a significant increase in the number of victims. The total amount stolen in related incidents in 2024 reached nearly $500 million, showing that hackers are constantly innovating their techniques to breach defenses. This EIP-7702 vulnerability has become the latest and most dangerous weapon.
Experts warn that users must carefully verify authorizations, avoid clicking on suspicious links, and it is best to enable new features only through official wallet UIs. Verifying transaction sources and regularly checking token permissions are key to prevention. Security analysts remind that hackers are swiftly keeping up with technological advancements, and users cannot be complacent.
In short, while the new "smart" upgrades to Ethereum wallets bring convenience, they have also become a new breakthrough point for hackers. Staying vigilant and ensuring the safety of funds has become the top priority for cryptocurrency users.
On May 24, 2025, a phishing attack exploiting the key proposal EIP-7702 in Ethereum's latest upgrade "Pectra" erupted, resulting in the theft of approximately $150,000 from a wallet. This vulnerability allows ordinary wallets to temporarily activate smart contract functionality, which hackers exploited to design a hidden batch token transfer scam, allowing users to unknowingly authorize multiple tokens to be drained all at once.
EIP-7702 enables wallets to perform complex operations in a single transaction, such as batch transfers and paying Gas fees, but it also opened up new attack vectors. Malicious hackers trick users into approving a "trusted" delegated contract, silently executing batch malicious transfers, leaving victims completely unprepared.
Security firm SlowMist confirmed that the notorious Inferno Drainer hacker group orchestrated this theft. They did not steal private keys but exploited the wallet upgrade feature to legally authorize bulk theft of funds. This covert method significantly increased the success rate and concealment of the attack.
In addition, the frequency of phishing attacks continues to rise, with losses exceeding $5 million in April alone and a significant increase in the number of victims. The total amount stolen in related incidents in 2024 reached nearly $500 million, showing that hackers are constantly innovating their techniques to breach defenses. This EIP-7702 vulnerability has become the latest and most dangerous weapon.
Experts warn that users must carefully verify authorizations, avoid clicking on suspicious links, and it is best to enable new features only through official wallet UIs. Verifying transaction sources and regularly checking token permissions are key to prevention. Security analysts remind that hackers are swiftly keeping up with technological advancements, and users cannot be complacent.
In short, while the new "smart" upgrades to Ethereum wallets bring convenience, they have also become a new breakthrough point for hackers. Staying vigilant and ensuring the safety of funds has become the top priority for cryptocurrency users.
