EIP-7702 didn’t cause Binance hack, but may have amplified losses
Summary
Binance confirmed a $6.3 billion hack and said it would cover losses. Blockaid suspects attackers compromised systems used to propose transactions to the exchange’s wallet signer; Binance said investigators found no evidence that private keys leaked. Experts disagree on EIP-7702’s role: the Ethereum upgrade may have let attackers bundle transactions or bypass checks, but the funds could likely have been stolen without it. Security specialists warn that compromised signing infrastructure poses risks to other exchanges and recommend transaction simulation to flag malicious requests.
