News · Security & Hacks
Preliminary analysis suggests attackers manipulated signing infrastructure through EIP-7702 delegation rather than exfiltrating private keys directly.
Key point 1 of 3
01
Blockaid assessed the $2.5 billion Binance breach as signing infrastructure misuse rather than a direct private key theft.
Key point 2 of 3
02
The attacker bundled 50 EIP-7702 authorizations into one transaction targeting Binance 14, delegating control to a sweeper contract.
Key point 3 of 3
03
Blockaid noted operational similarities to the February 2025 Bybit exploit and tactics linked to North Korean cyber operators.
Context
The suspected compromise of Binance resulted in more than $2.5 billion in lost crypto assets, marking the single largest theft in industry history.
Why it matters
Custodians and exchanges face renewed scrutiny over signing infrastructure and authorization protocols, particularly newer mechanisms such as EIP-7702.
What to watch
Binance has not yet issued a conclusive technical post-mortem confirming the exact attack path and asset recovery status.
Sources
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