Ethereum News: Base Launches Innovative Building Blocks to Enhance On-Chain Development

In a move aimed at revolutionizing on-chain development, Base, a prominent Layer 2 blockchain, has unveiled three groundbreaking building blocks designed to boost functionality and user experience.

Base Team Launches Building Blocks for On-Chain Development

Base, a Layer 2 blockchain, has announced the launch of three new building blocks: Flashblocks, Smart Wallet Sub Accounts, and Base Appchains. These tools are designed to improve on-chain functionality by reducing transaction confirmation times and consolidating wallet management processes. The updates are intended to support developers and users in navigating the complexities of on-chain development and advance Base’s goal of expanding the on-chain economy. The new technologies enhance Base’s speed, scalability, and usability.

FBI Points to North Korean Hackers in $1.5 Billion Crypto Breach at Bybit

The Federal Bureau of Investigation has implicated North Korean-backed hacking groups in a major cryptocurrency heist involving $1.5 billion in digital assets. The cyberattack targeted Bybit, a Dubai-based cryptocurrency exchange, making it one of the largest crypto thefts publicly known. The hackers—identified as TraderTraitor and the Lazarus Group—allegedly deployed malware through modified cryptocurrency trading applications, allowing them to seize Ethereum and convert it into other cryptocurrencies.

Ethereum Price In Trouble: ETH Accelerates Losses

Ethereum price started a fresh decline from the $2,350 resistance zone and is now consolidating losses. ETH is trading below $2,250 and the 100-hourly Simple Moving Average. A key bearish trend line is forming with resistance at $2,260. The price declined over 5% and traded below the $2,220 support zone, forming a low at $2,123. Ethereum failed to clear the $2,450 resistance zone and started a fresh decline, similar to Bitcoin.

Bybit Hacker Launders Over 50% of Stolen Ethereum

The Bybit hacker has already laundered more than 50% of the stolen Ethereum. In the last 6 days, the hacker has washed 266,309 ETH approximately worth $614 million, which makes up 53.3% of the total Ethereum (499K ETH) lost in the incident on February 21, 2025. The total funds stolen amounted to $1.5 billion. According to data by Spot On Chain, the hacker is washing 48,420 Ethereum per day via ThorChain. If the hacker continues at this pace, it will take only 5 more days for the remaining 229,469 ETH to be washed. The FBI refers to this incident as “TraderTraitor.”