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$CAKE LP TRAPPED BY EIP-7702 SIGNATURE EXPLOIT – $2.96M LOST ⚠️
The attacker swept $1.48M in BSC-USD and $1.48M in BUSD from the PancakeSwap liquidity pool, then laundered $1.46M through Tornado Cash while holding the remaining $1.48M USDT at their address. 📉 This is a textbook liquidity hunt disguised as a legitimate signature upgrade – institutional players just lost nearly $3M to a single malicious approval. 🔍
The exploit centers on EIP-7702, a new standard that lets externally owned accounts temporarily act as smart contracts. Experienced traders routinely approve signatures without fully vetting the underlying code, and this incident proves even top-tier LPs can be trapped. 💡 The attacker converted BUSD to ETH and used Tornado Cash, leaving a clear trail for forensic analysis.
💬 Do you believe wallet simulation tools (like Tenderly or Blowfish) should become mandatory before signing any EIP-7702 transactions? 👇
⚠️ Not financial advice. Always manage your risk. 🛡️
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#CAKE #DeFi #Security #Exploit #Crypto 🦈 🛡️