- Ethereum EIP-7702 exploited; market and security impact ongoing.
- Security firms identify risk areas post-upgrade.
- Urgent calls for enhanced security measures.
The recent Pectra upgrade has exposed Ethereum’s EIP-7702 feature to exploitation by sophisticated groups, raising significant security concerns within the community.
This event highlights vulnerabilities in Ethereum’s recent upgrade and has led to a call for greater transaction transparency.
Security Firms Investigate Post-Pectra Vulnerabilities
Following the Pectra upgrade on May 7, 2025, Ethereum’s EIP-7702 was exploited. Security firms have identified multiple vulnerabilities impacting over 10,000 addresses.
The exploitation allows EOAs to act as smart contract wallets. Key players like GoPlus Security and SlowMist have been involved in ongoing investigations.
“The phishing used the mechanism in MetaMask: EIP-7702 Delegator to complete the batch authorization phishing and stealing operations.” — Cosine, Researcher, SlowMist, SlowMist Report
Market Stability Shaken by EIP-7702 Exploitation
This incident significantly affects Ethereum users’ trust and has caused market instability. Malicious actors are leveraging the upgrade’s new feature against users.
Financially, the impact is seen primarily on Ethereum. Phishing techniques target users, prompting a demand for enhanced security indicators.
EIP-7702 Brings Unique Security Challenges
Unlike earlier upgrades, EIP-7702’s exploitation presents a unique attack vector, reminiscent of past phishing scams with more complex techniques.
Historical trends suggest continuous exploitation may occur unless security measures are bolstered. Experts anticipate wide calls for improved transaction safety features.
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