Ethereum Scammers Exploit New Security Feature in $4.5B Drain

A recent security flaw has allowed scammers to exploit a new Ethereum feature aimed at improving wallet safety. Over 80% of EIP-7702, part of the Pectra upgrade, is being used by malicious automated draining operations. Researchers have identified a specific address responsible for this misuse that enables a powerful attack. The situation raises concerns about the security implications of the new feature despite recent security funding initiatives.