Ethereum News: Market Volatility and Bleak Price Outlook Amid Vitalik Buterin’s Token Sale and Layer-2 Challenges

Vitalik Buterin Triggers Flash Crash, Ethereum Price Faces Bleak Outlook

Ethereum price is under pressure and struggling to break past $2,000. Co-founder Vitalik Buterin’s recent token sale wiped out nearly half the value of Dohrnii (DHN), stirring market volatility. On March 18, Buterin sold 5,000 DHN tokens for $124,000, causing a 46% price drop. Standard Chartered also cut its 2025 ETH forecast, warning that Layer-2 networks are chipping away at its value.

Microsoft Uncovers StilachiRAT Trojan Targeting Crypto Wallet Extensions

Microsoft researchers have identified a new remote access trojan (RAT) named StilachiRAT, designed to steal cryptocurrency wallet data, credentials, and system information. The malware, first detected in November 2024, employs stealth techniques and anti-forensic measures to evade detection. While Microsoft has not yet attributed StilachiRAT to a known threat actor, security experts warn that its capabilities could pose a significant cybersecurity risk, particularly to users handling crypto. StilachiRAT is capable of scanning for and extracting data from 20 different cryptocurrency wallet extensions in Google Chrome, including popular ones like MetaMask, Trust Wallet, and Coinbase Wallet.

Is Ethereum Poised for a Breakout? MVRV Ratio Points to Potential Opportunity

Ethereum (ETH) is at a critical juncture, facing downward pressure but with the potential for recovery if key resistance levels are reclaimed. The MVRV ratio at 0.9 suggests a potential accumulation zone for investors. Failure to hold support may lead to a drop toward $1,060, while reclaiming $2,500 could push ETH back to $4,000. Over the past week, ETH has declined by 2.34%, and as of today, it is trading at $1,916.79 with a 24-hour trading volume of $20.17 billion.

AiXBT Agent Scammed, 55.50 ETH Stolen, Token Falls 20%

On Mar. 18, AiXBT, a popular AI-driven crypto market commentator, fell victim to a security breach resulting in a loss of 55.50 ETH (approximately $104,000). An attacker gained access to the autonomous system dashboard and queued malicious replies, tricking AiXBT’s AI agent into transferring the funds from AiXBT’s Simulacrum wallet. The hacker, operating under a now-deleted X account called “FungusMan,” managed to execute the transfer. AiXBT’s pseudonymous developer, rxbt, confirmed the attack, stating that the hacker accessed a secure dashboard at 2 AM UTC. The incident caused the AiXBT token to fall by 20%.