The Ethereum Foundation has partnered with crypto security nonprofit Security Alliance (SEAL) to help “track and neutralize” wallet drainers and other social engineering threats targeting Ethereum users.
SEAL said on Monday that it launched the “Trillion Dollar Security” initiative in collaboration with the Ethereum Foundation after approaching the organization late last year for funding to support security engineers focused on monitoring drainer development and defending against large-scale attacks.
As part of the initiative, the Ethereum Foundation is now sponsoring a dedicated security engineer whose “sole mission” is to work alongside SEAL’s intelligence team to combat wallet drainers targeting Ethereum users, according to SEAL.
SEAL’s wider mission is to safeguard crypto market participants by offering collaborative tools for threat intelligence sharing and incident response, while also providing legal protection for white-hat hackers.
“The Security Alliance has done important work to combat attacks, and the ecosystem has benefited tremendously,” the Ethereum Foundation wrote on X in response to SEAL’s announcement.
Wallet drainers and phishing scammers typically rely on fake websites or fraudulent emails that impersonate legitimate crypto protocols, tricking users into approving seemingly harmless transactions that ultimately lead to stolen funds. These tactics have grown increasingly sophisticated, underscoring the need for stronger detection and prevention tools.
According to crypto intelligence platform ScamSniffer, such scams have resulted in nearly $1 billion in losses over the years. However, coordinated efforts by SEAL and other crypto investigators helped reduce losses to $84 million in 2025, marking an all-time low.
Ethereum security dashboard launched
SEAL and the Ethereum Foundation have also launched a Trillion Dollar Security dashboard to monitor Ethereum’s security across six key areas: user experience, smart contracts, infrastructure and cloud, consensus protocol, monitoring and incident response, and the social layer and governance.
Each area includes between eight and 29 risk controls that are being actively tracked, along with clearly identified “priority work” items that need to be addressed.
SEAL open to collaborating with other crypto ecosystems
SEAL said its partnership with the Ethereum Foundation is just the first in a series of planned initiatives and invited other forward-thinking crypto ecosystems to get involved.
“If your foundation or crypto ecosystem is interested in similar sponsorship opportunities, we’re happy to discuss how this model can protect users at scale,” SEAL said.
