#Nonfarm Payrolls Incoming

In August 2025, phishing attacks on cryptocurrency investors significantly intensified. According to Scam Sniffer, criminals stole over $12 million from more than 15,000 wallets. Losses increased by 72% compared to July, and the number of victims rose by 67%.
About 46% of all stolen funds accounted for just three large accounts ( "whales" ). Together, they lost $5.62 million, of which $3.08 million was attributed to one address.
According to Scam Sniffer, the main vulnerability in August was the Ethereum standard EIP-7702. It is used by scammers to force users to transfer funds to malicious contracts.
EIP-7702 was designed as an update for Ethereum wallets: it allows regular external accounts (EOA) to temporarily function as smart contracts. This provides access to new features:
batch processing of transactions,
setting spending limits,
the use of additional access keys,
restoring wallets without changing the address.
However, criminals also use these same opportunities to expedite theft.
According to data from the Dune analytics panel (Wintermute), over 80% of delegated contracts related to EIP-7702 are used in fraudulent schemes. Since the implementation of the update, it has affected more than 450,000 wallets.
The founder of SlowMist, Yu Xiang, noted that the level of awareness about such risks remains low. At the same time, organized crime groups are actively exploiting EIP-7702 throughout the Ethereum Virtual Machine ecosystem (EVM).
Scam Sniffer advises to be especially cautious when interacting with wallets and smart contracts. In particular:
check website domains,
do not grant unlimited permissions,
refusing suspicious or excessive transaction signatures,
be cautious about requests related to updates of EIP-7702 contracts or dubious transaction simulations.
Earlier, BeInCrypto reported that in 2024, losses from phishing reached $500 million and affected 330,000 users.