#Nonfarm Payrolls Incoming

In August 2025, phishing attacks against cryptocurrency investors increased significantly. According to the company Scam Sniffer, criminals stole more than $12 million from over 15,000 wallets. Losses rose by 72% compared to July, and the number of victims grew by 67%.
About 46% of all stolen funds were concentrated in just three large accounts ( "whales" ). In total, they lost $5.62 million, of which $3.08 million was attributed to a single address.
According to Scam Sniffer, the main vulnerability in August was the Ethereum standard EIP-7702. Scammers use this to force users to transfer funds to malicious contracts.
EIP-7702 was designed as an update for Ethereum wallets: it allows common external accounts (EOA) to temporarily function as smart contracts. This provides access to new functionalities:
batch processing of transactions,
definition of expense limits,
use of additional access keys,
restoration of wallets without address change.
However, criminals also use these same opportunities to accelerate thefts.
According to the data from the analytical panel Dune (Wintermute), more than 80% of the delegated contracts related to EIP-7702 are involved in fraudulent schemes. Since the implementation of the update, over 450,000 wallets have been affected.
The founder of the company SlowMist, Yu Xiang, noted that the level of awareness about these risks remains low. At the same time, organized crime groups are actively exploiting EIP-7702 across the Ethereum Virtual Machine ecosystem (EVM).
The Scam Sniffer advises to pay special attention when interacting with wallets and smart contracts. In particular:
check website domains,
do not give unlimited permissions,
refuse to sign suspicious or excessive transactions,
be cautious regarding requests related to updates of EIP-7702 contracts or simulations of dubious transactions.
Previously, BeInCrypto reported that in 2024, phishing losses reached 500 million dollars and affected 330 thousand users.