The Ethereum Foundation sponsors the cryptocurrency security nonprofit Security Alliance (SEAL) to “track and neutralize” cryptocurrency drainers and other social engineering attackers that target Ethereum users.
SEAL he said on Monday that it launched the “Trillion Dollar Security” initiative with EF to support these efforts after reaching out to EF slow last year about funding security engineers to more closely track the development of drainage systems and protect against large-scale attacks.
EF is currently sponsoring a security engineer whose “sole mission” is to work with the SEAL intelligence team to combat draining programs targeting Ethereum users, the SEAL said.
SEAL’s broader mission is to protect cryptocurrency market participants by providing collaborative tools to share threat intelligence and respond to incidents, while providing legal protection to white hat hackers.
“The Security Alliance has done important work in fighting attacks, and the ecosystem has benefited greatly” – Ethereum Foundation sent to X in response to the SEAL announcement.
Fraudsters and phishing people often create counterfeit websites or counterfeit emails that impersonate legitimate cryptographic protocols, tricking users into committing seemingly harmless wallet transactions that may result in the loss of funds.
Over the years, their tactics have become more and more sophisticated, resulting in the need for improved detection and prevention mechanisms.
ScamSniffer Crypto Intelligence Platform estimates that fraudsters have stolen nearly $1 billion in cryptocurrencies over the years. But the efforts of SEALs and other crypto detectives helped bring that total down to $84 million in 2025, the lowest figure on record.
An Etherum security dashboard has been launched to track progress
SEAL and EF created a trillion-dollar dashboard to track Ethereum security across six dimensions: user experience, clever contracts, infrastructure and cloud, consensus protocol, monitoring and incident response, social layer and governance.
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Each dimension includes 8 to 29 risk controls that are closely monitored, along with identified “priority work” that needs to be addressed.
SEAL is open to cooperation with other crypto ecosystems
SEAL said the partnership with EF is the first of many planned initiatives with other forward-thinking ecosystems, inviting other crypto ecosystems to get in touch:
“If your foundation or crypto ecosystem is interested in similar sponsorship opportunities, we are happy to discuss how this model protects users at scale,” SEAL said.
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