Users have lost over 235,000 USD in tokens due to signing a malicious EIP-7702 batch transaction.

The incident occurred when the victim signed a batch transaction under the EIP-7702 standard, resulting in significant losses in the tokens tracked by the Scam Sniffer system.

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

EIP-7702 batch transactions are exploited to facilitate token theft.

Scam Sniffer monitors and alerts about such fraudulent behaviors.

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

This makes the transaction more efficient but also more susceptible to exploitation by malicious transactions, as users do not fully control the actions in a single signature or do not understand the transaction content. As a result, bad actors can steal tokens or access rights.

The form of attack on EIP-7702 batch transactions has recorded significant losses, such as a loss of tokens worth 235,977 USD by the end of August, indicating that scam techniques and transaction exploits are becoming increasingly sophisticated.

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

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

Using transaction monitoring and fraud alert tools like Scam Sniffer, along with limiting interactions with unverified applications or contracts, is also a way to help protect cryptocurrency assets.

"Implementing transaction monitoring and early warning measures is key to minimizing the risk of asset loss due to attacks on new transaction standards like EIP-7702."

- Scam Sniffer report, 2024

Frequently Asked Questions

What is EIP-7702 batch transaction?

This is a group of actions combined into a single signature, helping to save fees and time but also carrying the risk of exploitation if not carefully checked.

Why is signing batch transactions dangerous for users?

Because multi-step content may contain hidden actions, which can be exploited by bad actors to withdraw 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 about fraudulent activities or unusual transactions.

How to avoid losing tokens when signing transactions?

Carefully read the transaction content, confirm the contract, use monitoring tools, and only interact with trusted sources.

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

After signing, tokens can be seized immediately, so it is necessary to be vigilant and avoid signing unclear transactions.

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