Coinbase-Backed Magic Labs Unveils AI-Powered Crypto Agent Platform Newton on Base

Magic Labs, a wallet infrastructure provider supported by PayPal, has launched Newton—an innovative AI-driven platform built on Coinbase’s layer-2 blockchain, Base. Newton aims to revolutionize cryptocurrency management by enabling users to delegate onchain tasks to autonomous AI agents while maintaining full control over their assets. This marks a significant step forward in the integration of artificial intelligence with decentralized finance.

PayPal-Backed Magic Labs Launches Verifiable Crypto Agent Platform Newton on Base

Magic Labs, a wallet infrastructure provider with backing from PayPal, has unveiled Newton—an AI-driven agent platform designed to simplify cryptocurrency management through autonomous finance. Built on Base, Coinbase’s layer-2 blockchain, Newton claims to be the first verifiable crypto copilot, enabling users to delegate onchain tasks to AI agents while retaining full control.

The platform integrates cryptographic verification and reputation management to ensure transparency, even for complex cross-chain transactions. Newton addresses two critical pain points: the fragmented user experience in crypto and the trust deficit surrounding AI-powered tools. "Crypto UX is broken. AI can’t be trusted. Newton sets you free," asserts the team in their launch materials.

Coinbase Users Lose $45M in Social Engineering Scam, ZachXBT Reports

On-chain investigator ZachXBT has uncovered a $45 million drain from Coinbase users over the past week, linked to social engineering attacks. The independent analyst identified a series of cryptocurrency addresses tied to the alleged scammers, revealing a pattern of large lump-sum transfers to anonymous wallets.

Ten BTC and ETH addresses were intercepted by researchers, with funds rapidly moved to THORChain or mixing services. Ethereum-based addresses showed immediate withdrawals of ETH and DAI, mirroring previous attack methods involving decentralized exchanges and DeFi platforms.

The scale of this week’s theft highlights growing security challenges in cryptocurrency adoption, particularly around social engineering vulnerabilities. Coinbase, one of the industry’s most established exchanges, now faces renewed scrutiny over user protection measures.