Ethereum Foundation Partners With SEAL to Stop Wallet Drainer Attacks

TLDR

• Ethereum Foundation sponsors Security Alliance (SEAL) to fight wallet drainers targeting Ethereum users
• SEAL launched “Trillion Dollar Security” initiative with EF after requesting funding in late 2024
• EF now funds a security engineer dedicated to tracking drainer development and preventing attacks
• SEAL and EF created a dashboard monitoring Ethereum security across six key dimensions
• Crypto drainer scams stole $84 million in 2025, down from nearly $1 billion historically

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The Ethereum Foundation announced it is sponsoring the Security Alliance to combat wallet drainers and social engineering attacks. The partnership aims to protect Ethereum users from increasingly sophisticated scams.

SEAL reached out to the Ethereum Foundation in late 2024 requesting funding. The nonprofit wanted support for security engineers to track drainer development. The goal was to prevent large-scale attacks on Ethereum users.

The foundation now sponsors a security engineer focused solely on fighting drainers. This engineer works directly with SEAL’s intelligence team. Their mission centers on tracking and stopping threats to Ethereum users.

The collaboration led to the “Trillion Dollar Security” initiative launch on Monday. SEAL announced the program as part of broader efforts to enhance Ethereum security. The Ethereum Foundation confirmed its support in a post on X.

New Dashboard Tracks Ethereum Security

SEAL and the Ethereum Foundation created a Trillion Dollar Security dashboard. The tool monitors Ethereum security across six areas. These include user experience, smart contracts, infrastructure and cloud systems, consensus protocol, monitoring and incident response, and social layer governance.

Each area contains between 8 and 29 risk controls under active monitoring. The dashboard also identifies priority work requiring immediate attention. This system provides transparency into Ethereum’s security status.

Wallet drainers create fake websites and fraudulent emails pretending to be legitimate crypto protocols. Users get tricked into approving transactions that appear harmless. These approvals can result in complete loss of funds from their wallets.

The tactics used by these scammers have evolved significantly. Detection and prevention systems needed improvement to keep pace. The sophistication of attacks prompted the partnership between SEAL and EF.

Crypto intelligence platform ScamSniffer tracks losses from these scams. The platform estimates drainer scams stole nearly $1 billion over the years. Work from SEAL and other security researchers reduced 2025 losses to $84 million.

SEAL Opens Door to Other Blockchains

The Security Alliance provides collaborative tools for threat intelligence sharing. The nonprofit also offers incident response support. SEAL provides legal protection for white-hat hackers working to secure crypto systems.

SEAL indicated the Ethereum Foundation partnership is just the beginning. The organization plans similar initiatives with other blockchain ecosystems. SEAL welcomes foundations and crypto projects to discuss sponsorship opportunities.

The partnership represents a proactive approach to user protection in crypto. SEAL now has dedicated resources focused specifically on Ethereum security threats.

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