Binance Hackers Exploit EIP‑7702 Authorization
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Techniques used by the attackers included laptop infections, compromised internal tooling, and fake job interviews.
Binance hot wallets on Solana and Optimism sent approximately 970,500 SOL and 44.2 million OP to attacker‑controlled addresses.
Binance then received an internal alert regarding large‑volume transfers and immediately began investigating.
A hot wallet sent 18,270 BTC to an attacker‑controlled address.
The attacker used the signing service to exploit Ethereum’s EIP‑7702 authorization mechanism, which allows an account to delegate certain execution rights to a smart contract without exposing the private key.
In this case, the attacker used that mechanism to give an attacker‑controlled smart contract partial execution rights over a Binance hot wallet.
More context
Timeline
- On October 25 2026 Binance reported large‑volume transfers alert.
- On October 25 2026 Binance suspended withdrawals and froze assets.
- On October 30 2026 Hackers stole six point three billion dollars from Binance.
- On November 3 2026 Binance detailed month‑long planning of heist.
Why it matters
Immediate US impact: Potential loss of investor confidence and regulatory scrutiny Possible long-term US impact: Increased security standards across crypto exchanges Most affected groups: Crypto traders and institutional investors Reader priority: Understanding exchange security measures
Coverage notes
Center: Coverage from Fox Business, CBS News, Arkansas Online frames this as a developing news story: Binance Hackers Exploit EIP‑7702 Authorization. Reporting emphasizes verified facts, named sources, and near-term impact for readers. Left: Left-leaning desks covering the same development typically emphasize public impact, institutional accountability, and who is most affected. Right: Right-leaning desks covering the same development typically emphasize practical outcomes, market or security stakes, and institutional response.
Primary report
Ars Technica — Binance Hackers Exploit EIP‑7702 Authorization
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
