Ethereum EIP-7702 Exploited Following Pectra Upgrade: Security Risks Emerge

The recent Pectra upgrade to Ethereum has left the EIP-7702 feature vulnerable to exploitation, raising significant security concerns within the community. This exploit, identified by security firms following the Pectra upgrade on May 7, 2025, allows malicious actors to target users and gain control over their assets through a phishing attack leveraging this new vulnerability. This has created an immediate impact on market stability, with many urging for enhanced security measures to prevent further attacks.