DeFi▼ Bearish

Experts say Ethereum's EIP-7702 did not cause Binance hack but may have worsened losses

TradingGain Newsroom·2h ago·30 Oct 2026, 11:00 UTC

Security experts say attackers could have drained Binance's wallets even without the EIP-7702 Ethereum upgrade. However, the upgrade may have helped attackers get around withdrawal safeguards. For traders, the story points to security risks on exchanges and in new Ethereum features.

ETHAt the time of writing, Ethereum traded at $2,247 (-3.23% in 24h).Live price →

Why it matters

Security experts say the hack was possible without EIP-7702, so the upgrade is not the sole cause.
The Ethereum upgrade may have helped attackers bypass Binance's withdrawal safeguards.
Exchange security problems can affect trust in platforms and the assets they hold.

What to watch next

Watch for Binance's official findings on the hack and any changes it makes to withdrawal safeguards.

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This brief is written by TradingGain from public reporting by Cointelegraph.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.