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EIP-7702 vulnerability leads to nearly one million dollars loss for DeFi projects, security agency issues protection recommendations.
[Coin World] News on July 9, according to security agencies, recent multiple contract attack cases have utilized the features of EIP-7702 to bypass on-chain security checks, including msg.sender == tx.origin and msg.sender == _owner, leading to issues such as flash loan attacks and price manipulation, with losses reaching nearly one million dollars. Case analysis shows that attackers implemented attacks through malicious delegator authorization, affecting well-known DeFi projects including QuickConverter and multiple CSM liquidity pools.
The implementation of EIP-7702 enables EOA addresses to possess smart contract capabilities, rendering traditional security logic ineffective. Security agencies recommend that project teams enhance protection against flash loan attacks and reentrancy attacks, restructure EOA checks and permission management logic, and continuously monitor the delegator authorization status of administrator addresses to prevent potential risks.