Binance CEO says hackers used EIP-7702 flaw in $6.3 billion hot wallet attack

Binance, one of the world’s largest cryptocurrency exchanges, has uncovered further security vulnerabilities following a record $6.3 billion hack. CEO Richard Teng revealed new details of the sophisticated breach and confirmed a Sunday target for restoring withdrawals. Richard Teng, who leads Binance, shared that the hackers went beyond exploiting a single employee laptop. They utilized a self-destruct mechanism to wipe evidence and leveraged Ethereum ’s EIP-7702 account-delegation feature to access a hot wallet, bypassing normal approval processes. Teng described the incident as a “complex attack” and noted investigators continue to identify more breach points.