The Ethereum network just got a major makeover with its Pectra upgrade — but beneath the sleek new features lies a serious security threat that could let hackers drain wallets with a single signature.
Launched on May 7, 2025, Pectra introduces offchain wallet delegation via EIP-7702 — a powerful tool that lets users authorize smart contract control with just a signed message, not an onchain transaction. Sounds convenient, right? But here’s the catch: if a hacker gets that signature, they can hijack your wallet without you ever approving a traditional transaction.
So What’s the Big Risk?
With EIP-7702, attackers can trick users (through phishing, fake DApps, or even Discord scams) into signing a message that silently gives them total control. No transaction approval, no gas fees, just one deceptive click — and boom, your ETH and tokens are gone.
Arda Usman, a smart contract auditor, confirms: “Attackers can drain an EOA’s funds using only an offchain signature.”
At the core of the risk is the new SetCode transaction (type 0x04), which installs custom code in your wallet — effectively turning it into a programmable contract under someone else’s control.
Even Hardware Wallets Aren’t Safe Anymore
Think your Ledger or Trezor protects you? Not anymore. Hardware wallets can still sign these dangerous offchain messages — and once signed, it's over. According to Yehor Rudytsia of Hacken, “Hardware wallets now carry the same risks as hot wallets when it comes to signing malicious delegation messages.”
How to Stay Safe in a Post-Pectra World
1. Don’t sign messages you don’t fully understand.
2. Be extra cautious with new delegation formats — especially those that look like harmless 32-byte hashes.
3. Watch out for signatures involving your account’s nonce — that’s a red flag.
4. Multisig wallets offer more protection, but even they must be updated to detect new risks.
5. Wallet developers need to update ASAP to warn users about suspicious delegation requests.
Bonus Threat Alert: Signatures can now be reused across different chains (chain_id = 0), meaning one bad signature could put you at risk across all Ethereum-compatible networks.
---
The Bottom Line
Pectra is a leap forward in Ethereum’s evolution — but with great power comes great responsibility. Until wallets evolve to keep up, the best defense is awareness.