Phyrex|Oct 30, 2026 07:22
Many users have questions about the Binance hack, particularly the successful transfer of Bitcoin and other on-chain assets, despite the EIP-7702 authorization. EIP-7702 doesn't directly control the bitcoin:native wallet.
Binance's initial investigation suggests a compromised operations engineer's computer allowed the attacker to access a service container and submit unauthorized withdrawal transactions.
On-chain data shows approximately 18,270 BTC were transferred from a hot BTC wallet, with valid signatures, resembling ordinary transfers. Transfers signed by Binance wallets were also observed on other chains.
Therefore, a more likely explanation is that the attacker gained some form of internal privilege, allowing Binance's system to sign malicious requests on different chains. Of course, valid signatures don't necessarily mean the private key was compromised. This only demonstrates the hacker's sophisticated techniques.
In layman's terms, the hackers in this Binance theft incident used a variety of methods to transfer assets on the blockchain, and even on Ethereum, the methods used were not limited to EIP-7702.
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