Over 12,000 Ethereum Wallets Targeted by New Scam Leveraging EIP-7702

Ethereum’s recent EIP-7702 upgrade, introduced in the Pectra update, aimed to enhance user experience with features like gas sponsorship and batch transactions. However, this innovation has become a vulnerability for scammers. Over 12,000 Ethereum wallet transactions involving suspicious contracts have been identified, many of which exploit the optional functionality. This rise in scams is attributed to malicious actors leveraging the feature to automate fund extraction from compromised wallets.