Ethereum Pectra upgrade has introduced EIP-7702, allowing wallets to work temporarily as smart contracts for better user experience.
Proposed by Vitalik Buterin, this feature supports the abstraction of the accounts, allowing users to launch transactions, sponsor gas costs and apply more strict expenditure controls.
Although this innovation improves conviviality and safety of the portfolio, it has also become a potential operating target.
Source: X
Wintermute’s analysis reveals that more than 80% of EIP-7702 delegations are used by a single malicious contract, nicknamed “Crimeenjoyor”. The contract code is short, copy and alarming effective.
Once he has access to a compromised portfolio – often by phishing – he instantly drains the funds to an attacker.
It is large -scale automation, and it is expensive.
Source: X
The blockchain security company, Scam Sniffer, has highlighted one of these incidents when a victim lost nearly $ 150,000 in a lots transaction linked to the famous enclosed service.
With thousands of similar transactions already recorded, the features intended to simplify Ethereum also accelerate its vulnerabilities.
Maybe it’s not the code
The basic problem behind the recent wave of portfolio drainage attacks is not EIP-7702. This is the continuous problem of private keys disclosed or stolen.
The new feature simply makes it faster and cheaper for attackers to use already compromised portfolios. Safety companies such as Slowmist urge portfolio providers to improve visibility in contractual interactions and strengthen user protections.
Source: X
As Ethereum evolves, the priority must move to the smarter portfolio design, clearer signature prompts and better user education.
Because even the most promising features can turn around when they fail.
