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Quick Take An update included in Ethereum’s recent “Pectra” upgrade, intended to improve ease-of-use for users, has mostly been used by automated “sweeper” attacks to drain unsuspecting wallets, according to an analysis by Wintermute. Over 80% of EIP-7702 delegations, one function introduced in the upgrade, were devoted to a single malicious script, Wintermute found. One user lost nearly $150,000 to a phishing attack enabled by the script, according to blockchain security firm Scam Sniffer.
Share link:In this post: Sharplink Gaming Inc. has launched a stock offering of up to $1 billion to acquire Ethereum (ETH). Proceeds from the stock sale will primarily be used to purchase Ether, along with funding general business operations, working capital, and expanding affiliate marketing efforts. The stock sale will be conducted through an “at-the-market offering” structure, allowing Sharplink to issue shares flexibly in response to market conditions.
Pi Network’s PI token has plunged 22% in a week, pressured by broad crypto selloffs and weakening institutional interest, risking a deeper downturn below key support.
Wintermute found that 97% of delegated contracts using Ethereum’s EIP-7702 feature were tied to malicious activity, streamlining the transfer of ETH from wallets with leaked private keys.
