According to Cointelegraph, security experts stated that attackers were able to drain Binance’s cryptocurrency wallets without the influence of Ethereum upgrade EIP-7702. However, they indicated that the upgrade may have enabled the bypass of certain withdrawal safeguards, potentially contributing to greater loss exposure.
The analysis focused on how procedural or technical changes introduced by EIP-7702 could have interacted with Binance’s internal security mechanisms at the time of the incident. Experts emphasized that the hack itself was not caused by EIP-7702, but that the upgrade’s characteristics might have reduced the effectiveness of withdrawal controls under specific conditions.
No definitive causal connection was asserted between EIP-7702 and the occurrence of the breach. Instead, the assessment highlighted a plausible amplification effect—where the presence of the upgrade feature could have made it easier for unauthorized withdrawals to proceed once initial access was achieved.
