$2.5 billion was transferred in a single transaction, with a network fee of only around $15.
New details in the $6.36 billion Binance hack are drawing attention to EIP-7702.
The hacker used a feature related to EIP-7702—a mechanism that allows regular Ethereum wallets to temporarily use smart contract functionality.
This opens up many possibilities for improving UX, but also makes managing delegation permissions and signatures more important.
Note: There is no confirmed evidence that EIP-7702 caused the hack.
The question isn’t whether we should use new technology, but whether we understand the risks well enough before granting it permissions.
#eth
New details in the $6.36 billion Binance hack are drawing attention to EIP-7702.
The hacker used a feature related to EIP-7702—a mechanism that allows regular Ethereum wallets to temporarily use smart contract functionality.
This opens up many possibilities for improving UX, but also makes managing delegation permissions and signatures more important.
Note: There is no confirmed evidence that EIP-7702 caused the hack.
The question isn’t whether we should use new technology, but whether we understand the risks well enough before granting it permissions.
#eth
