 ▲ Cryptocurrency hacking |
To block massive sums of money siphoned off through wallet drainer attacks, the Ethereum community has begun a full-scale “security collaboration.”
According to investment news outlet FXStreet on February 10 (local time), the Ethereum Foundation is sponsoring the cryptocurrency security nonprofit Security Alliance (SEAL) to launch the so-called “Trillion Dollar Security” initiative. The goal is to track and neutralize wallet drainers and various social engineering attacks targeting Ethereum users.
SEAL said that after requesting security engineering support from the Ethereum Foundation late last year, a partnership was formed, and that one dedicated security engineer is now working with SEAL’s intelligence team to analyze and respond exclusively to drainer attacks. The Ethereum Foundation publicly confirmed its support, stating that “SEAL has delivered tangible security outcomes across the ecosystem.”
Drainer and phishing attacks impersonate legitimate DeFi protocols through fake websites or forged emails, luring users into unknowingly signing wallet approval transactions and stealing their funds. As these techniques grow increasingly sophisticated, assessments suggest that the need for systematic detection and response frameworks has gone beyond simple warning notices.
According to crypto security analytics platform ScamSniffer, the cumulative value of digital assets stolen through such methods amounts to approximately $1 billion. However, as joint responses by SEAL and white-hat hackers have strengthened, losses in 2025 fell to $84 million, marking a record low.
To transparently disclose response outcomes, the two sides also unveiled the “Trillion Dollar Security Dashboard.” The dashboard continuously monitors a total of 8 to 29 security risk control items across six areas: user experience, smart contracts, infrastructure and cloud, consensus protocols, monitoring and incident response, and the social layer and governance. Key tasks requiring priority resolution are also clearly identified.
SEAL made it clear that this collaboration will not be limited to Ethereum. It is proposing the same sponsorship model to other blockchain ecosystems and foundations, stating that it is “open to discussions with projects interested in security collaboration aimed at protecting large user bases.” Attention is focused on whether the partnership between the Ethereum Foundation and SEAL could become a benchmark for future cryptocurrency security standards.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses incurred based on it. The content should be interpreted solely for informational purposes.*