Attackers exploited an Ethereum EIP-7702 vulnerability to transfer $780 million in USDC and 195,500 ETH from a Binance-linked wallet.

Attackers allegedly exploited the Ethereum EIP-7702 mechanism to obtain signature authorization, installing malicious code without direct access to the private key of their Binance wallet. They then invoked the `sweep` function to transfer ETH and dozens of other tokens to a controlled wallet. The same delegation authority was used to transfer $780 million USDC from another Binance hot wallet, followed by the transfer of nearly 195,500 ETH to a newly created wallet. Binance stated that user funds are safe and is currently investigating (Source: Bitcoin News).