Ethereum Pectra Upgrade Security Risks Highlighted by Wintermute

The Ethereum hard fork "Pectra" introduced the EIP-7702 upgrade aimed at enhancing user convenience by supporting account abstraction, allowing wallets to operate like smart contracts for performing multiple tasks simultaneously. However, despite its innovative potential, data from Wintermute indicates that over 97% of delegated EIP-7702 interactions are linked to automated scrapers utilizing malicious scripts. These scripts exploit leaked private keys to automatically seize ETH from accounts, posing significant security risks. The majority of malicious activity involving EIP-7702 stems from a harmful script called 'CrimeEnjoyor,' which has led to substantial asset thefts, with some users losing over 200 million won. The core issue appears to be users' inadequate private key management rather than flaws within the EIP-7702 protocol itself. While the technology offers promising improvements, its current implementation in an unverified infrastructure opens avenues for exploitation. Users should exercise caution and enhance their private key security practices to mitigate risks.