An attacker reportedly used Ethereum’s EIP-7702 authorization feature to withdraw approximately $2.5 billion from the Binance 14 hot wallet. The authorization allowed a malicious contract to control transaction execution and transfer 167,464 ETH, about $1.6 billion in USDT and dozens of other tokens. The incident forms part of a broader Binance security breach affecting multiple wallets and blockchain networks, with estimated losses of $6.3 billion. Binance’s preliminary investigation pointed to a potentially compromised DevOps engineer’s laptop, although the exchange found no evidence that private keys had been leaked. Approximately $3 billion in stolen assets reportedly were frozen with the assistance of stablecoin issuers and blockchain partners, while recovery efforts continued.
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