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An independent record of the October 2026 Binance hack
People. CEO, Ambire
The statements below are attributed to this speaker by the cited sources. Appearing here is not an accusation.
Ivo Georgiev, co-founder and CEO of Ethereum wallet provider Ambire, said that EIP-7702 made little difference to the attack because the hackers already had the ability to authorize transactions.
He said attackers could have drained the funds through other methods, but warned that exchange engineers might overlook the need to revoke a malicious EIP-7702 delegation after regaining control of their systems.
“This is a problem with EIP 7702, it’s just very, very poorly understood,” Georgiev said.