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Ethereum Upgrade EIP-7702 May Have Amplified Binance's $2.5B Loss
CryptocurrenciesPremium
Medium 7/10EthereumBinance

Ethereum Upgrade EIP-7702 May Have Amplified Binance's $2.5B Loss

An Ethereum upgrade, EIP-7702, designed to enhance ordinary wallet functionality, is under scrutiny following a massive loss experienced by Binance. While security experts suggest the breach could have occurred without the upgrade, its implementation may have inadvertently facilitated the bypass of withdrawal safeguards, potentially amplifying the drained funds.

Published 11 hours ago
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