SlowMist Cos: EIP-7702 is not the root cause of the Binance theft incident; it was only used to facilitate bulk sweeping of tokens from the relevant hot wallets

According to TechFlow on October 30, SlowMist Cos stated that the Binance attacker chose the EIP-7702 mechanism on Ethereum mainly to facilitate bulk sweeping of tokens from the relevant hot wallets. On-chain transaction records show that the attacker's operations were relatively crude; hours before actually stealing the assets, they had already conducted rehearsals and preparations through the relevant addresses. Cos emphasized that the EIP-7702 mechanism itself is not flawed, and even without this protocol mechanism, attackers could carry out similar operations through other means.

Source: TechFlow