EIP-7702 Wallet Upgrade Played a Key Role in the Binance Hack, Says Blockaid Co-Founder

Blockaid co-founder Ido Ben-Natan says a wallet upgrade was a critical turning point in the reported Binance hack.
According to Ben-Natan, the incident escalated after a transaction upgraded a wallet into a smart account through EIP-7702, allowing funds to begin flowing to the attacker.
He also highlighted a broader rise in crypto security incidents, saying attacks across the industry have increased from a few per month to several per day this year.
This growing threat is one reason Blockaid is relying on AI to detect and stop attacks in real time.
The incident highlights how new wallet features can introduce security risks when transactions are not properly monitored, while reinforcing the growing importance of real-time threat detection across the crypto ecosystem.