The user lost over 235,000 USD in Tokens due to signing a malicious EIP-7702 batch transaction.

The incident occurred when the victim verified a batch transaction under the EIP-7702 standard, resulting in a large loss of Tokens as recorded by the Scam Sniffer system.

MAIN CONTENT

  • The victim lost 235,977 USD in Tokens due to an attack through EIP-7702.

  • EIP-7702 batch transactions are exploited to carry out Token theft.

  • Scam Sniffer monitors and alerts on such fraudulent activities.

What is an EIP-7702 batch transaction and why does it pose risks to users?

EIP-7702 batch transactions are a new standard that allows grouping multiple signing actions on the blockchain into a single instance.

This makes transactions more efficient but also vulnerable to exploitation by malicious transactions, when users do not fully control the operations in a single signature or do not clearly understand the transaction content. As a result, the perpetrator can steal Tokens or access rights.

Why is scamming through EIP-7702 transactions attracting attention?

The type of attack on EIP-7702 batch transactions has recorded significant damage, such as the loss of Tokens worth 235,977 USD at the end of August, indicating that phishing techniques and transaction exploitation are becoming increasingly sophisticated.

Scam Sniffer is one of the few deep monitoring systems that help detect unusual or malicious transactions early, providing a basis for warning the community and minimizing the risk of asset loss.

How can users protect themselves from the risk of losing Tokens through batch transactions?

Users need to be cautious when signing batch transactions, especially related to EIP-7702, by thoroughly reading each content, confirming access rights, and allowed actions.

Using transaction monitoring tools and scam alerts such as Scam Sniffer, along with limiting interaction with unverified applications or contracts, is also a way to help protect cryptocurrency assets.

The implementation of transaction monitoring and early warning measures is the key to minimizing asset loss risks due to attacks on new transaction standards like EIP-7702.
- Blockchain security analysis expert, Scam Sniffer Report, 2024

Frequently Asked Questions

What is an EIP-7702 batch transaction?

It is a transaction grouping multiple operations into a single signature, helping to save fees and time but also carries the risk of being exploited if not checked carefully.

Why is signing a batch transaction dangerous for users?

Because multi-step content may contain hidden operations, it is easy for perpetrators to exploit to extract Tokens or access rights.

What is Scam Sniffer and how does it work?

It is a cryptocurrency transaction monitoring system that helps detect and alert on scam activities or unusual transactions.

How to avoid losing Tokens when signing transactions?

Carefully read the transaction content, verify contracts, use monitoring tools, and only interact with reliable sources.

If a malicious transaction has been signed, is there a way to remedy it?

Once signed, Tokens can be seized immediately, so one must be vigilant and not allow signing unclear transactions to avoid risks.

Source: https://tintucbitcoin.com/dia-chi-mat-236-nghin-usd-token/

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