TREE NEWS reports: EIP-7702, an Ethereum upgrade that lets ordinary wallets execute smart contract code for batched and sponsored transactions, is behind the $6.4 billion Binance hack. The proposal enables wallets to run contract logic, a feature linked to the exploit that drained the exchange. Details of how the upgrade was exploited were not immediately specified.
EIP-7702 Ethereum Upgrade Tied to $6.4B Binance Hack
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AI take
The link between EIP-7702 and the Binance exploit shifts the debate from wallet UX to the security surface created when ordinary wallets gain contract-execution powers. Wallets, tooling providers and exchange custody teams that adopt the upgrade now carry a new class of risk, and the missing technical detail makes it hard to separate a design flaw from an implementation failure. The open question is whether the Ethereum community treats this as a reason to revisit the proposal's safeguards or as a deployment and integration problem.
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