what's Magic Labs?
Magic Labs develops an SDK that enables developers to integrate instant web3 wallets using familiar web2 logins like email or social accounts. This abstracts away complexities such as seed phrases, browser extensions, or downloads, providing enterprise-grade security and scalability with minimal code integration. Trusted by over 200,000 developers, it has onboarded 50 million users to leading apps. Recent innovations include partnerships like Newton with Polygon’s AggLayer for seamless cross-chain experiences and verifiable AI agents on Base, allowing secure, autonomous onchain actions without exposing private keys. The platform emphasizes user-friendly web3 adoption through proactive security via Smart Accounts, session keys, and Trusted Execution Environments.
Magic crypto project experienced a vulnerability, leading to users' wallets being drained.
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x.com/magic_labsExperienced a vulnerability leading to users' wallets being drained.
Experienced a security incident where accounts using MagicLink email-based login system were drained, with over $30,000 in total reported losses across multiple user accounts over a 24-hour period starting around December 23, 2025.
Newton product processes 62M requests on election day, bringing programmable compliance and verifiable off-chain data to the protocol layer for institutional use cases.