Ethereum Vulnerability Leads to $1.5 Million Phishing Exploit

A new security vulnerability in Ethereum’s EIP-7702 improvement proposal has opened a window for phishing attacks that have already cost victims over $1.5 million. The exploit, targeting users with upgraded wallets, involves malicious DeFi interfaces designed to mimic legitimate platforms like Uniswap. These interfaces trick unsuspecting users into approving seemingly routine transactions that actually carry hidden transfers and drain their funds almost instantly.