Experts Analyze Role of EIP-7702 in Binance Hack
Security researchers examine whether a recent Ethereum upgrade impacted the $6.3 billion security breach at Binance.
Updated on Oct. 30, 2026 in Cybersecurity
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Security analysts are investigating the involvement of EIP-7702 in a massive $6.3 billion asset heist at Binance. Investigators confirmed the breach occurred despite finding no evidence of a private key leak.
Why it matters
The analysis centers on whether new Ethereum smart-contract functions facilitated the heist. Understanding these vulnerabilities is critical for developers tasked with securing assets against increasingly complex attack vectors.
Ethereum introduced EIP-7702 in May 2025, enabling regular wallets to use smart-contract functions like transaction bundling. While this update can streamline asset transfers, experts note it could allow attackers to complete malicious transfers in fewer steps.
The players
Binance
Binance is a major global cryptocurrency exchange that recently faced a significant security breach involving billions in assets.
Ido Ben-Natan
Ido Ben-Natan is the CEO of Blockaid, a security firm that specializes in identifying and mitigating malicious transaction requests.
The details
Binance investigators revealed the breach involved multiple unidentified entry points beyond the previously suspected engineer's laptop. Although EIP-7702 simplifies transaction bundling, Blockaid CEO Ido Ben-Natan confirmed that attackers possessed the capabilities to steal the funds regardless of the update.
Timeline
Ethereum introduced EIP-7702 in May 2025.
Blockaid CEO Ido Ben-Natan commented on the Binance breach on October 30, 2026.
The Tech Race
The introduction of EIP-7702 marks a transition toward more programmable wallet functions, reflecting an industry-wide push for advanced transaction capabilities. This development necessitates a parallel arms race in security, where simulation tools must catch malicious requests before they are signed.
Users should rely on transaction simulation tools to identify malicious requests before signing any smart-contract interactions. These tools act as a safeguard, ensuring that complex operations like transaction bundling do not authorize unauthorized fund movements.
The takeaway
The security of digital assets now depends heavily on identifying threats before they are executed on the blockchain. Investors must verify that their chosen platforms utilize robust transaction simulation to defend against sophisticated, multi-step attacks.
Further reading
For more on evolving digital threats, visit the Cybersecurity section.
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