Ethereum EIP-7702 Involves Security Risks in 63% of Authorized Transactions

A study submitted to USENIX Security '26 found that out of 3,664,166 historical authorized transactions under EIP-7702, 2,322,548 were associated with contracts linked to attackers, accounting for approximately 63% of the transaction volume observed across seven networks as of July 15, 2025. The research analyzed over 22.8 billion historical transactions on Ethereum, BNB Smart Chain, Polygon, Optimism, Arbitrum, Base, and Gnosis, identifying 924 malicious contracts. The realized losses totaled $2,362,848.76 across three types of attacks, with a potential risk exposure of about $10,140,000. EIP-7702 was activated on May 7, 2025, allowing external accounts to point to deployed contract code without changing addresses. The study noted that merely monitoring the current state may be insufficient to mitigate risks, and there have been instances where accounts were redirected to benign code. Ethereum recommends implementing allowlists for delegated contracts, visible highlighting, avoiding arbitrary delegation in hardware wallets, and prioritizing audited implementations.

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