The EIP-8476 proposal, submitted by the developer known as “nicolashw,” would allow externally owned wallets to permanently opt out of delegating execution to a smart contract under EIP-7702. The option relies on recording a non-executable marker, 0xef0200, that cannot be removed or replaced, while preserving the ability to send transactions and receive ETH, tokens and NFTs. According to the article, EIP-7702 played a central role in the massive Binance hack on October 29, 2026, during which 50 delegation authorizations were submitted in a single type 4 transaction. The mechanism allegedly allowed the attacker to drain a wallet through persistent delegation, whereas the other targeted blockchains suffered classic signed transfers. The proposal was revised twice to maintain NFT compatibility and ensure that affected accounts are treated like ordinary EOAs, but it does not protect against private-key compromise.
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