The Ethereum Foundation has entered a strategic partnership with Security Alliance (SEAL), a nonprofit focused on crypto security, to combat wallet drainers and social-engineering attacks targeting Ethereum users and the wider ecosystem. This initiative will sponsor dedicated security engineering resources aligned with SEAL’s intelligence efforts, aiming to track, analyse and neutralize malicious actors that exploit phishing and scam techniques to drain funds from victims’ wallets.

Under the collaboration, the Ethereum Foundation has backed a security engineer whose primary role will be working with SEAL’s threat intelligence team to directly counter threats aimed at Ethereum wallets. SEAL describes the initiative called Trillion Dollar Security as a framework that monitors risks across multiple security dimensions, including user experience, smart contracts, infrastructure resilience, incident response and the social layer where phishing and scam vectors often originate.

SEAL’s broader mission is to act as a cooperative ecosystem defender, providing tools for threat intelligence sharing, incident response coordination, and legal safeguards for white-hat hackers and researchers who play a key role in protecting users and protocols. The partnership with the Ethereum Foundation reflects a growing industry awareness that wallet drainers and phishing attacks remain among the most persistent and damaging security challenges for blockchain users. Estimates from web3 security platforms suggest phishing-related losses tied to wallet drainers have fallen in recent years but the threat ecosystem remains active, particularly around periods of heightened on-chain activity.

Wallet drainers are malicious schemes or contracts that trick a user into approving a transaction or signature that appears benign but in fact grants an attacker rights to transfer all of a user’s assets. These scams often use clever social engineering, misleading interface prompts, and fake connections to legitimate dApps or services to deceive even experienced users. ETH holders who approve such misleading actions can find their wallets emptied, a key reason why enhanced threat tracking and rapid incident response are considered vital improvements for user security.

In practical terms, the Ethereum Foundation’s sponsorship of SEAL means the ecosystem will have deeper visibility into emerging drainer infrastructure and a trusted conduit for rapidly disseminating threat intelligence across wallet providers, developers, and security responders. The Trillion Dollar Security dashboard is expected to aggregate risk insights and prioritize mitigation work, helping developers and security professionals identify vulnerabilities before they are exploited. The initiative is also open to expanding to other blockchain ecosystems interested in similar protective frameworks.

For investors and crypto users, this development underscores a growing focus on cybersecurity as a foundational layer of blockchain usability and trust. While phishing and drainer schemes have historically caused significant losses, recent trends suggest total phishing-related losses have declined year-over-year, even as new attack vectors emerge and innovate. Partnerships like this signal that both ecosystem stewards and independent security organisations are prioritising proactive defence over reactive recovery, a shift that could improve user safety and reduce friction for mainstream participation. Sentiment in the security space remains cautiously optimistic as heightened cooperation may mitigate long-standing threats, though the broader landscape of scams and exploits continues to evolve.