The Ethereum Foundation sponsors the cryptosecurity nonprofit Security Alliance (SEAL) to “track and neutralize” crypto drainers and other social engineering attackers who goal Ethereum users.
SEAL announced Monday that it has launched the Trillion Dollar Security Initiative with EF to support those efforts, after turning to EF late last yr to fund security engineers to more closely track drainer development and protect against large-scale attacks.
The EF is now sponsoring a security engineer whose “sole job” is to work with SEAL’s intelligence team to combat rip-offs targeting Ethereum users, SEAL said.
Source: Security Alliance
SEAL's broader mission is to guard crypto market participants by providing collaborative tools for threat intelligence sharing and incident response, while also providing legal protection to its white hat hackers.
“The Security Alliance has done necessary work to combat attacks and the ecosystem has benefited tremendously,” the Ethereum Foundation posted on X in response to SEAL’s announcement.
Phishing scammers and senders often create fake web sites or fraudulent emails posing as legitimate crypto protocols and tricking users into approving seemingly harmless wallet transactions that can lead to the lack of funds.
Their tactics have change into increasingly sophisticated over time, increasing the necessity for improved detection and prevention mechanisms.
Crypto intelligence platform ScamSniffer estimates that these scammers have stolen nearly $1 billion value of cryptocurrencies over time. However, the efforts of SEAL and other crypto experts helped that number fall to $84 million in 2025, an all-time low.
The Ethereum Security Dashboard was launched to trace progress
SEAL and EF created a Trillion Dollar Security Dashboard to trace Ethereum security across six dimensions: user experience, smart contracts, infrastructure and cloud, consensus protocol, monitoring and incident response, social layer and governance.
Each dimension includes eight to 29 risk controls which are closely monitored, in addition to identified “priority work” that should be addressed.
Security assessment of smart contracts on Ethereum. Source: Billion Dollar Security
SEAL is open to collaborating with other crypto ecosystems
SEAL said the partnership with the EF is the primary of many planned initiatives with other forward-thinking ecosystems and welcomed other crypto ecosystems to become involved:
“If your foundation or crypto ecosystem is concerned with similar sponsorship opportunities, we’re comfortable to debate how this model protects users at scale,” SEAL said.
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