The Pectra upgrade includes EIP-7702, allowing wallets to act like smart contracts. This feature is misused by criminals to automate draining funds from compromised wallets with leaked private keys, significantly improving their theft efficiency.
Wintermute’s analysis shows that malicious actors have linked over 100,000 smart contracts to theft. Attackers utilize EIP-7702’s automation capabilities, enabling them to quickly reroute stolen ETH to their controlled addresses.
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