Wintermute publicly reported that Ethereum's Pectra upgrade has enabled mass wallet-draining attacks through EIP-7702-enabled smart contracts.

Event date

May 30, 2025

Quotes that support claims

Analysts at Wintermute, a crypto trading firm, noted that attackers used 97% of EIP-7702 wallet delegations to deploy contracts designed to drain funds from unsuspecting users.

Hackers are abusing the new EIP-7702 feature introduced in the Ethereum Pectra Upgrade to automate the transfer of ETH from wallets with stolen private keys. According to blockchain security researchers, attackers are using EIP-7702 to deploy smart contracts that drain funds without manual action.

Tags

Week 22 of 2025