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On October 30th, ZeroDev founder Derek Chiang stated that the Binance hot wallet attack was unrelated to the security of the EIP-7702 protocol. EIP-7702 allows external accounts to gain access to smart contract functionality through authorization; attackers need to possess the private key or trick Binance into signing an authorization to exploit this mechanism. Derek Chiang cautioned that wallet and exchange developers should not expose EIP-7702 authorization signing or arbitrary message signing interfaces to third parties.