Security risks and impact

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Wintermute warned that although Ethereum’s EIP-7702 expands functionality, the lack of contract verification mechanisms makes it difficult for users to identify malicious delegations.
A user interacting with EIP-7702-enabled contracts lost $146,550 on May 23, 2025, after signing multiple malicious batched transactions linked to an automated scam campaign.
Wintermute identified that organized attackers spent approximately 2.88 ETH to authorize over 79,000 Ethereum addresses with contracts designed for automated theft using EIP-7702.
Wintermute confirmed that EIP-7702 was not used to hack wallets directly but to automate fund theft from wallets already compromised through prior private key leaks.

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