Ethereum Protocol EIP-7702 attacked, losses exceed $5.3 million 🚨

The Ethereum protocol EIP-7702 has fallen. A fairly sophisticated attack. Losses already exceed $5.3 million according to recent reports. This is not the first issue this year. It seems to me that 2025 is on track to become the black year for crypto security, with hacks already surpassing $3.1 billion. Smart contracts are failing. Access controls are also failing 🔥

GoPlus revealed disturbing details. The attackers did not beat around the bush. They used signature phishing. Also malicious updates. They abused permissions to drain funds. The Web3 ecosystem seems especially vulnerable to these things. Security remains... complicated 🛡️

I find it interesting that GoPlus was the first to detect threats with this specific protocol. They have been quite busy responding to desperate users. After a lot of research, they announced something important: their simulation API now detects issues with EIP-7702. It can intercept suspicious transactions. Good news, I suppose 🔍

A browser plugin will be launched soon. It will arrive at a somewhat critical moment. The Cetus hack was brutal. $223 million disappeared in minutes. Perhaps the worst DeFi incident of the year. It's not entirely clear if the new protections would have prevented something like this 🌕

Hardware wallets remain the best option. Also cold storage. Multi-signature setups help a lot. Phishing attacks are on the rise. AI exploits are becoming more sophisticated. The crypto security landscape in 2025 is frightening. But we continue 🚀