TREE NEWS update: Binance is rebuilding its withdrawal service after a breach it estimates at $6.3 billion. The attacker used EIP-7702 to bypass wallet controls, Teng said, and also destroyed tools and traces during the intrusion.
Binance Rebuilding Withdrawals After $6.3B Breach, Attacker Used EIP-7702
AI take
The detail that matters here is the attack vector, not the dollar figure: EIP-7702 was designed to let ordinary accounts delegate execution to smart contracts, and its abuse to slip past wallet controls suggests a newer surface that wallet providers and exchanges have not fully hardened. The operational fallout — destroyed tooling and traces — will complicate attribution and forensic recovery as much as the loss itself. Whether EIP-7702-based delegation becomes a recurring pattern across other platforms is the open question worth watching.
Generated by AI for reference only.
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