Binance CEO Richard Teng Confirms Hackers Used EIP-7702 Delegation

Binance CEO Richard Teng confirmed that hackers used EIP-7702 delegation to compromise a hot wallet, identifying the attack method at the center of a security incident involving the exchange.

Teng’s statement links the wallet breach to a specific technique: delegation through EIP-7702. The account identifies a hot wallet as the target and delegation as part of how hackers exploited it. Those details give the incident a technical focus rather than leaving it as a general report of unauthorized access.

The key development is the confirmation of the delegation mechanism. It adds a concrete detail to the hot-wallet hack and defines what is known about the attack method in Teng’s account. The claim centers on the relationship between EIP-7702 delegation and control of the wallet.

For a security story about a major exchange, that distinction matters: the wallet type describes what was compromised, while the EIP-7702 detail describes the method Teng identified. The disclosure keeps the focus on the exploit itself.