Inferno Drainer Steals $150,000 in Crypto Phishing Attack

A notorious phishing group known as Inferno Drainer has begun exploiting a new Ethereum feature to launch wallet-draining attacks The group is taking advantage of Ethereum Improvement Proposal (EIP) 7702, a key part of the Pectra upgrade, which allows Externally Owned Accounts (EOAs) to temporarily act like smart contract wallets during transactions. Sophisticated Crypto Phishing Scam Exploits Ethereum’s Smart Wallet Flexibility On May 24, Scam Sniffer, a web3 anti-scam platform, flagged a case where a wallet recently upgraded to EIP-7702 lost nearly $150,000. According to Yu Xian, founder of blockchain security firm SlowMist, Inferno Drainer carried out the theft using a more sophisticated version of traditional phishing. Unlike previous scams that hijack user wallets directly, Xian explained that Inferno Drainer used a delegated MetaMask wallet—one already authorized under EIP-7702 source: https://beincrypto.com/inferno-drainer-ethereum-wallet-crypto-phishing-attack/