User Loses $1.54M in EIP-7702 Phishing Batch Transaction
A user lost $1.54 million after signing an EIP-7702 phishing batch transaction. Scam Sniffer detected the EIP-7702 phishing exploit which bundled multiple token transfers and NFT approvals in a single batch transaction. This crypto phishing attack underlines the risks of grant approvals in Ethereum smart contracts. EIP-7702 phishing scams manipulate users into trusting malicious contracts. Traders should remain vigilant, review transaction details, and use security tools to block unauthorized batch transactions.
Bearish
The $1.54 million loss due to an EIP-7702 phishing batch transaction is likely bearish. Large-scale crypto phishing incidents often erode trader confidence and trigger short-term sell-offs as users reassess security risks. Ethereum-related assets may see increased volatility as market participants reduce exposure to potential exploits. In the longer term, sentiment will hinge on improved contract verification tools and user education. However, recurrent phishing attacks could sustain negative pressure and dampen bullish momentum in the DeFi sector.