Ethereum Pectra Claims First Victim! Phishing $150,000

Pectra recent update to the Ethereum network, which was intended to improve the user experience through the EIP-7702 proposal, has inadvertently become a breeding ground for malicious attacks.

New Ethereum Pectra update opens the door for hackers to infiltrate, creating a security hole

The proposal, proposed by Vitalik Buterin and allowing wallets to temporarily act like smart contracts, has now been exploited by fraudsters.

Blockchain security firm Wintermute revealed that more than 80 percent of wallet delegations were linked to a malicious script called “CrimeEnjoyor.” Under the guise of improving the user experience, the script hacks wallets and instantly transfers their balances to addresses controlled by the attackers. Wintermute said that more than 97 percent of all EIP-7702 delegations were given to contracts with the same code that are used to automatically drain Ethereum from compromised addresses.

In a related development, ScamSniffer reported that a wallet lost nearly $150,000 in a phishing scam linked to the “Inferno Drainer.”

Experts emphasize that the main problem is not EIP-7702 itself, but rather the weak security of private keys, which is the biggest risk. While EIP-7702 makes transactions smoother, it also makes wallet-draining attacks cheaper and faster.

Companies like Slowmist have called on wallet providers to improve security features, as convenience should not be compromised.

Despite extensive efforts to drain wallets, the attackers have not made much money. They spent about 2.88 million Ethereum to target nearly 79,000 wallets, but the stolen funds have not yet been deposited into the main wallets associated with the scams.

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