ethereum ·
Experts say EIP-7702 may have amplified Binance hack losses, not caused it
Security specialists suggest that the Binance hack was not attributable to EIP-7702.
These experts indicate that malicious actors might have been able to empty Binance's digital asset holdings even without the implementation of EIP-7702.
However, the Ethereum upgrade itself could have facilitated the circumvention of existing withdrawal protections.
This suggests a potential vulnerability introduced or exposed by the network upgrade, irrespective of the specific EIP-7702 proposal.
Regulators and institutional participants are observing how infrastructure changes interact with established security protocols.
The incident highlights the complex interplay between protocol upgrades and the resilience of centralized exchanges against sophisticated threats.
Earlier coverage
Reported by CoinTelegraph.
