EIP-7702 developers: EIP-7702 itself has no vulnerabilities; the Binance attack incident may involve compromised private keys or abused signature authorizations.

On October 30, Derek Chiang, founder of ZeroDev and an EIP-7702 developer, stated that there are no inherent security vulnerabilities in EIP-7702 itself, meaning wallet users who support this mechanism do not need to panic. EIP-7702 allows externally owned accounts (EOAs) to implant smart contract code into their accounts via signed authorizations, enabling features like transaction batching; however, it could also be exploited by attackers to batch-transfer account assets in a single transaction.

Derek Chiang noted that during the recent Binance attack, the attacker leveraged EIP-7702 to transfer ETH, USDT, and an additional 62 tokens in a single transaction. For an attacker to use this mechanism, they would need either private key access or to trick Binance into signing an EIP-7702 authorization—the latter being unlikely—but final confirmation awaits an official post-incident investigation report.

He recommended that wallet developers and trading platforms should not expose EIP-7702 authorization or raw message signing interfaces to third parties, while users should prioritize established wallets. Furthermore, he believes that EIP-8141 (Frame Transactions) holds promise for further enhancing account security in the future through multi-signature contracts and transfer post-conditions.