🚨 @binance @cz_binance : BEHIND THE BILLION-DOLLAR INCIDENT IS A REMARKABLE TECHNICAL EXPLOIT** According to blockchain security firm Blockaid, one of the most interesting technical details of the October 29, 2026 Binance incident was how the attacker exploited the EIP-7702 account delegation mechanism. The attacker did not know the exact real-time nonce of Binance's hot wallets. Instead of guessing a single value, they bundled 50 authorization signatures with consecutive nonces into one transaction, hoping that one would match. The result: only one signature succeeded. The affected wallet was then delegated to a malicious smart contract with a sweep function, allowing the attacker to drain nearly all ETH and ERC-20 tokens. Even more concerning, the authorization could remain active, meaning any new assets deposited into the compromised address could also be at risk unless the malicious delegation was revoked. **Initial estimated scale of affected assets:** - Ethereum: Approximately $2.5 billion. - Smart account: 780 million USDC. - Arbitrum: Approximately $19.5 million. - Avalanche: Approximately $24 million. That brings the initial reported total to approximately $3.32 billion across these figures, excluding additional fund movements reported on other networks. What makes this incident particularly concerning is not just the amount of money involved, but how an account authorization mechanism could potentially be exploited to gain control over assets. It is a reminder that in the blockchain world, a transaction being technically valid does not necessarily mean it is safe. #Binance# #EIP7702# #BlockchainSecurity# #Crypto# #Ethereum# #Web3# #OnChain#