TREE NEWS reports: Security experts said attackers could have drained Binance’s wallets even without Ethereum’s EIP-7702 upgrade, but the upgrade may have helped bypass withdrawal safeguards and amplified losses. The assessment follows the Binance hack, in which the exchange’s wallets were targeted.
EIP-7702 not the cause of Binance hack, but may have amplified losses
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AI take
The distinction matters: EIP-7702 is being framed less as the entry point than as an accelerant, which shifts scrutiny from a single upgrade to how wallet safeguards interact with delegated execution. For exchanges and wallet providers, the practical question is whether withdrawal controls were designed for code that can act on behalf of an account. The open issue is whether post-incident reviews treat 7702 as a design consideration for safeguard architectures rather than a scapegoat.
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