How the EIP-7702 Ethereum Upgrade Figured in the Binance Wallet Attack
Security researchers say a 2025 Ethereum upgrade did not cause the Binance hack but may have helped attackers sidestep withdrawal protections.
AfroEuropa Newsroom
AfroEuropa desk
An Ethereum network upgrade known as EIP-7702 has drawn attention for its role in an attack that contributed to losses at Binance, according to coverage from several crypto news outlets.
EIP-7702, introduced as part of a 2025 upgrade, allows standard Ethereum wallets to execute smart contract code. That capability supports features such as batched transactions and sponsored transactions, in which fees can be covered on a user's behalf.
CoinDesk reported that the attacker drew on the upgrade using 50 signatures tied to Binance's own wallet to help carry out part of the theft. CoinDesk framed the incident within a roughly $6 billion loss, while Decrypt referenced a figure of $6.4 billion connected to the event.
Security specialists cited by Cointelegraph said the upgrade was not the root cause of the breach. According to that account, attackers could have emptied the affected wallets even without EIP-7702, but the upgrade may have made it easier to get around withdrawal safeguards, potentially amplifying the losses.
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