“Seriously Dangerous Code”: Hoskinson Warns of EIP-7702 Risks Amid Binance Wallet Exploit

TL;DR: Charles Hoskinson described a contract linked to Ethereum account delegation as severely dangerous code. CyberSatoshi’s technical analysis reported the use of 50 signed authorizations to bypass the nonces of the Binance 14 wallet. Ethereum’s official specification documents that any delegation under EIP-7702 requires valid cryptographic signatures from the account. Cardano founder Charles Hoskinson warned about the security risks linked to the implementation of EIP-7702 on the Ethereum network . The executive’s warning was made public this Friday, October 30, following the revelation of a technical report detailing how attackers used this mechanism to drain assets from a Binance hot wallet on Thursday, October 29. Careful, there is some seriously dangerous code out there.

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