In August 2025, crypto phishing losses surged by 72%, totaling $12.17 million, with 15,230 victims reported—a 67% increase. Attackers exploited the Ethereum protocol upgrade, EIP-7702, leveraging batch signatures to execute harmful transactions. Almost half of the month’s scams were linked to EIP-7702, resulting in significant losses, including a single victim losing over $3 million. Experts recommend vigilance in verifying transactions, regularly checking token permissions, and staying informed about new features and risks. Enhanced AI fraud detection and user education are also crucial in combating this growing threat in the crypto ecosystem.
