Today in crypto, Ethereum’s Pectra has opened a new attack vector that could allow hackers to drain funds using only an offchain signature, Bitcoin SV (BSV) investors attempt to rekindle 2019 Binance lawsuit, Robert Kiyosaki has urged his followers to abandon what he calls “fake money” and adopt alternatives like Bitcoin, gold and silver.
Pectra lets hackers drain wallets with just an offchain signature
Ethereum’s latest network upgrade, Pectra, introduced powerful new features aimed at improving scalability and smart account functionality — but it also opened a dangerous new attack vector that could allow hackers to drain funds from user wallets using only an offchain signature.
Under the Pectra upgrade, which went live on May 7 at epoch 364032, attackers can exploit a new transaction type to take control of externally owned accounts (EOAs) without requiring the user to sign an onchain transaction.
Arda Usman, a Solidity smart contract auditor, confirmed to Cointelegraph that “it becomes possible for an attacker to drain an EOA’s funds using only an offchain signed message (no direct onchain transaction signed by the user).”
At the center of the risk is EIP-7702, a core component of the Pectra upgrade. The Ethereum Improvement Proposal introduces the SetCode transaction (type 0x04), which enables users to delegate control of their wallet to another contract simply by signing a message.
If an attacker obtains this signature — say, via a phishing site — they can overwrite the wallet’s code with a small proxy that forwards calls to their malicious contract.
Bitcoin Satoshi's Vision investors attempt to rekindle lawsuit against Binance
A group of Bitcoin Satoshi's Vision investors is attempting to rekindle a 2019 lawsuit against Binance, alleging that the crypto exchange caused price damage to the altcoin by delisting BSV in 2019.
Attorneys for the plaintiffs argued that a previous ruling from the United Kingdom Competition Appeal Tribunal, throwing out the claims of undue damage from the delisting, should be examined again, according to legal outlet Law360.
If successful, the litigants could demand up to 10 billion British pounds (GBP), or roughly $13 billion, in damages from the exchange.
BSV continues to suffer from a multitude of issues, including a long-term price decline, several 51% attacks that compromised the blockchain network's security, and criticism from the crypto community.
Robert Kiyosaki says ditch ‘fake money’ for Bitcoin, gold, and silver
Robert Kiyosaki, businessman and best-selling author of Rich Dad Poor Dad, is once again sounding the alarm on the dangers of centralized monetary policy, urging his followers to abandon what he calls “fake money” and adopt alternatives like Bitcoin, gold, and silver.
In a May 10 post on X, Kiyosaki backed a hardline stance against central banking systems, particularly the Federal Reserve, while quoting former US Congressman Ron Paul.
Ron Paul, a longtime critic of the Fed and author of End the Fed, described interest rate setting by central banks as “price fixing,” equating it to socialist and Marxist economic control.
Paul warned that such mechanisms erode personal wealth and undermine economic freedom — a sentiment that aligns closely with Kiyosaki’s long-held concerns.
“Fake money leads to dishonest money, dishonest statistics, dishonest accounting, dishonest balance sheets, dishonest compensation, dishonest relations, dishonest leaders, and corruption in everyday life,” Kiyosaki wrote.
He called on Americans to “fight back” by opting out of fiat systems and instead embracing decentralized stores of value like Bitcoin (BTC) and precious metals.
