Binance $6.3 Billion Hack: How Ethereum’s EIP-7702 Upgrade Helped Attackers Drain Wallets

TLDR Binance says attackers stole about $6.3 billion across several blockchains, the largest hack in crypto history. On Ethereum, the attacker used the EIP-7702 feature to drain about $2.5 billion in under four minutes. Security firms say the upgrade did not cause the hack but may have helped attackers bypass checks. Binance’s co-CEO Richard Teng said early findings point to a compromised engineer’s laptop, and more breach points were later found. Binance has pledged to cover all losses and says about $3 billion of the assets have been frozen. Binance confirmed on Friday that it lost about $6.3 billion in a hack that hit several blockchains. The exchange called it the largest theft in crypto history. It has pledged to cover all losses.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.