Phalcon: $3.55M in Unclaimed Cross-Chain Funds Claimed
AI Market Summary
Phalcon reported ~$3.55M in previously unclaimed crosschain funds being withdrawn via EIP7702 delegation, with funding linked to Tornado Cash and uncertainty over whether the owner authorized the claims or was compromised. The episode elevates near-term security and authorization-risk concerns around new delegation flows and crosschain claim surfaces, potentially increasing scrutiny on EIP7702-enabled transaction patterns and related infrastructure.
Impact level
● Medium
Affected assets
ETH/USDT-0.26%
AI Insight · ETH/USDTAI Insight
▼ Bearish
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ChainCatcher reported that blockchain security platform Phalcon said roughly $3.55 million in previously unclaimed cross-chain funds were claimed and moved about six hours ago. Phalcon questioned whether the transfers were initiated by the rightful owners or if an attacker obtained valid EIP7702 authorization.
On-chain data indicates the claim was submitted by address 0x24a9, with funds traced back to Tornado Cash. Execution was carried out via EIP7702 delegation on an externally owned account. The two transactions totaled $1.33 million and $2.22 million, and on-chain records show the related authorizations were valid.
Days earlier, on-chain researcher stuckfunds.eth repeatedly contacted address 0x4943 to alert the owner that the funds remained claimable. At present, on-chain data cannot determine whether the owner signed intentionally, was tricked into signing, or if the private key has been compromised.
