Cardano founder Charles Hoskinson has raised alarms over the security risks posed by Ethereum’s EIP-7702 delegation feature. In a recent post on X, he highlighted “seriously dangerous code” linked to this update, which allegedly enabled attackers to swiftly drain a Binance hot wallet.
Hoskinson’s analysis suggests that the delegation mechanism, intended to streamline operations, may inadvertently expose wallets to rapid exploitation. This revelation has intensified the debate within the Ethereum community regarding the feature’s safety and implementation.
The incident underscores growing concerns about hot wallet security and the broader implications of new protocol changes on major exchanges.