A security paper presented at the USENIX Security Symposium found that 63% of the sampled Ethereum EIP-7702 wallet authorization transactions were linked to malicious contracts controlled by attackers, according to a Techub News report citing NewsBTC. The study said those malicious authorization activities have already resulted in more than $2.3 million in confirmed asset theft.
The report said the main issue is not an inherent flaw in Ethereum itself. Instead, it centers on malicious authorizations and a broader wallet attack surface created around the way users approve permissions. EIP-7702, as part of account abstraction, lets externally owned accounts gain more flexible functionality through authorized code execution, but that same flexibility can leave users exposed if they sign harmful authorizations.
Researchers said wallet interface design has become a critical layer of defense. They suggested wallets may need clearer warnings, stronger authorization displays, and better simulation tools so users can better understand the risks before signing.
A security research paper presented at the USENIX Security Symposium in the United States found that 63% of the sampled Ethereum EIP-7702 wallet authorization transactions were associated with malicious contracts controlled by attackers, according to Techub News, which cited NewsBTC. The report said those malicious authorization activities have led to more than $2.3 million in confirmed asset theft.
The researchers said the core issue is malicious authorization and an expanded wallet attack surface, not an inherent vulnerability in the Ethereum protocol itself. EIP-7702, as part of account abstraction, allows externally owned accounts to gain more flexible functionality through authorized code execution. That added flexibility can also increase risk when users sign malicious authorizations.
The paper said wallet user experience design has become a key security layer. Researchers said wallets may need clearer warnings, better simulation tools, and stronger authorization displays to help users understand the risks tied to what they are approving.
The item was reported by NewsBTC.
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