Blockade reveals how a hacker needs to take over Binance Wallet: One of 50 EIP-7702 certificates According to an analysis by the blockchain security firm, the attacker used Ethereum's EIP-7702 certificate mechanism to attack Binance 14 hot wallet. Since the attacker could not determine the live node of the hot wallet, and EIP-7702 credentials must match the account's reluctance when executing the transaction, the attacker submitted 50 credentials with various deficiencies (189175 to 18914824) in one Type 4 transaction. Only one matches successfully, allowing the malicious expedition to take effect. The successful confirmation attached the hot wallet's account code to the unverified malicious asset transfer contract. The contract allows only the address designated by the attacker to execute the sweep() function that can transfer ETH and ERC-20 tokens from the wallet while keeping 1 ETH for gas fees. Incoming assets may also be at risk of being transferred. link