Binance Hack Shows How One Ethereum Permission Drained $2.5 Billion

Crypto Insight Summary: TL;DR Binance hack shows an attacker reportedly used Ethereum’s EIP-7702 authorization feature to drain approximately $2.5 billion from Binance’s Ethereum hot wallet. The attacker gained the ability to move funds without repeatedly requesting individual transaction approvals. The incident forms part of a wider Binance security breach estimated at $6.3 billion. Binance suffered one of the […] Crypto Insight Analysis: Direction: Bearish ETH Impact: Major Impact Horizon: Short-term (1-3 days) Reasoning: A $2.5B Ethereum exploit threatens exchange confidence and could trigger broad crypto selling and risk-off sentiment.