GoKawiilBinance Loses $6.3B as Attackers Exploit Ethereum EIP-7702 Flaw
On Oct. 29, attackers drained roughly $6.34 billion in cryptocurrency from at least 11 Binance-owned wallets by exploiting a feature of Ethereum's EIP-7702 smart-account standard to install malicious "sweeper" code. Binance's internal systems detected unusual activity within minutes, but the malicious authorization kept functioning for about four hours, ultimately emptying a treasury wallet of roughly $2.5 billion across dozens of cryptocurrencies down to a single ETH coin.