Phishing scams aimed at cryptocurrency investors intensified in August 2025, which exhausted more than $ 12 million more than 15,000 wallets throughout the sector.
Blockchain SCAM Sniffer’s security firm reported that these losses represent a strong month by month, rising 72% compared to July. In particular, the number of victims also grew, increasing 67% during the same period.
Ethereum Eip 7702 The increase in fuels in phishing crypto attacks
According to the firm, approximately 46% of phishing losses came from three high -value accounts, often called whales. Together, these accounts lost $ 5.62 million, and only one was exploited for $ 3.08 million.
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Meanwhile, SCAM Sniffer identified Ethereum EIP-7702 as the main tool exploited in the wave of August attacks. The firm also pointed out an increase in scammers who deceive cryptography users to send money directly to malicious contracts.
EIP-7702 Improves Ethereum wallets by temporarily allowing external property accounts (EOA) that work as intelligent contract wallets.
This allows convenient characteristics, such as lot transactions, establishing limits, integrating verses passas and recovering wallets without changing addresses.
However, the attackers have turned these same tools into a way of accelerating robberies.
Wintermute’s Dune analysis board shows that more than 80% of delegated contracts linked to EIP-7702 imply malicious activities. In particular, this has committed more than 450,000 wallet addresses since its implementation this year.
Yu Xian, founder of the Slowmist Security Company, said that awareness of how EIP-7702 can be armed is still low. He stressed that organized criminal groups have enthusiastically adopted the mechanism, exploiting it in the ecosystems of Ethereum Virtual Machine (EVM).
In the light of the increase, SCAM Sniffer has advised cryptographic users to be much more cautious when interacting with wallet applications.
They suggest verifying domains, avoiding hurried approvals and rejecting firms that grant unlimited permits or seem broader than necessary.
In addition, suspicious indications linked to contract updates EIP-7702 or non-coincident transaction simulations should also generate alarms.
