According to CoinMeta, Wu said that Derek Chiang, the founder of zerodev and developer of ethlabs, stated regarding the hot wallet attack on Binance, that the EIP-7702 protocol itself was not compromised, and users need not panic just because their wallets support this feature. Chiang pointed out that EIP-7702 allows external accounts to obtain smart contract functions through authorization, including the ability to execute transactions in batches. In this attack, the attackers took advantage of this mechanism to transfer ETH, USDT, and 62 other tokens in a single transaction, significantly improving the efficiency of fund transfers. However, to use this mechanism, the attackers must possess the relevant private keys or persuade Binance to sign EIP-7702 authorizations. The specific reasons still need to be confirmed by the official incident investigation report. He reminded that wallet and exchange developers should not open up EIP-7702 authorization signing or any message signing interfaces to third parties.