Warning: Ethereum Users at Risk After Pectra Upgrade ⚠️
The latest Ethereum upgrade, intended to enhance usability, has become a tool for attackers exploiting vulnerabilities. EIP-7702, part of Ethereum's new 'Pectra' hard fork, was crafted to streamline user operations by enabling wallets to mimic smart contracts, batch actions, cover gas fees, and set transaction limits. However, a crypto firm, Wintermute, identified that over 80% of EIP-7702 authorizations involved contracts that automatically drained wallets using leaked keys, dubbing these 'CrimeEnjoyor'. Security companies Scam Sniffer and SlowMist have highlighted the necessity for wallet service providers to adapt quickly to mitigate phishing risks and protect users.
FAQ
❓ What is the Ethereum Pectra upgrade?
The Pectra upgrade includes EIP-7702, designed to improve user experience by allowing wallets to function like smart contracts for certain tasks.
❓ Why is EIP-7702 considered risky?
EIP-7702 is being misused by attackers who create contracts to automatically drain wallets with exposed keys.