Ethereum Foundation Supports Security Alliance
The Ethereum Foundation has stepped in to support the Security Alliance, a nonprofit organization focused on cryptocurrency security, as it intensifies its fight against crypto drainers and other cyber threats targeting users within the Ethereum ecosystem. This partnership comes after the nonprofit, known as SEAL, approached the Foundation late last year, seeking assistance to bolster its initiatives.
Funding and Initiatives
As part of its ‘Trillion Dollar Security’ program, SEAL has received funding to hire a dedicated security engineer tasked with collaborating with the SEAL Intelligence team. This position is specifically aimed at identifying and dismantling draining attacks that exploit vulnerabilities in Ethereum user wallets.
Understanding Crypto Drainers
Crypto drainers operate as malicious scripts or toolkits that are widely distributed among cybercriminals, often available for purchase in underground markets. The functionality of these tools allows individuals with minimal technical skills to execute phishing schemes effectively. According to SEAL, scammers create counterfeit websites that mimic legitimate protocols, tricking users into authorizing seemingly harmless transactions. Once these transactions are approved, the users’ wallets can be swiftly emptied of their assets.
Notable examples of such drainers, like Angel and Inferno, have evolved continuously to stay ahead of conventional security measures, with new versions emerging even after their predecessors were reportedly shut down. A report from the crypto intelligence platform ScamSniffer included by SEAL estimates that these attack forms have contributed to nearly $1 billion in losses over recent years.
SEAL’s Response and Future Plans
In response to this threat landscape, SEAL has developed a robust Trillion Dollar Security dashboard, which monitors essential security dimensions including user experience, infrastructure resilience, smart contract integrity, consensus mechanisms, incident response capabilities, and governance over social layers. The organization highlighted that this collaboration with the Ethereum Foundation is just the beginning and hopes to work with other crypto ecosystems to implement similar sponsorship models aimed at user protection.
SEAL boasts that its proactive measures have already successfully reduced losses tied to drainers, bringing the total down to a record low of $84 million in 2025. Founded in 2023 by renowned white-hat hacker and security expert samczsun, SEAL has quickly established itself as a key player in delivering rapid response capabilities and collaborative tools designed to combat phishing attacks and on-chain vulnerabilities. In 2022, major wallets like MetaMask and Phantom integrated into SEAL’s phishing defense network alongside partners such as WalletConnect and Backpack, further enhancing the barrier against security threats.
