Ethereum Address Errors Expose Cross-Chain Transfer Risks
A recent study has highlighted the risks associated with Ethereum address errors, which have resulted in $574.8 million in losses across both Ethereum and BNB Chain. Researchers identified 65,340 high-risk cases involving contract addresses, exposed accounts, and cross-chain reuse.
The study found that contract account misuse was responsible for 49,344 cases, with users sending 22,738.41 ETH and 8,681.41 BNB to addresses lacking expected code. Exposed private keys contributed to 15,996 account misuse cases involving 104,224.53 ETH and another 9,045.29 BNB.
The researchers also found that EIP-7702, a mechanism allowing externally owned accounts to delegate execution to smart contract code, was used by attackers in 17,270 cases to seize exposed accounts and redirect incoming funds automatically.