EIP-7702 upgrade enables Binance hot wallet hack, resulting in $64 million theft

The EIP-7702 upgrade, activated on Ethereum in May 2025, allows standard externally-owned accounts to temporarily use smart contract code. On October 29, 2026, attackers exploited this feature to convert a Binance hot wallet into a sweeper, transferring approximately $64 billion across 10 blockchains in about 20 minutes. Blockchain analysts TRM Labs and Chainalysis attributed the hack to the TraderTraitor group linked to North Korea. The attack involved pre-signed delegations that allowed the attacker's code to control the wallet's funds.