The Ethereum Foundation is backing crypto security nonprofit Security Alliance, known as SEAL, in a new effort to disrupt crypto drainers and social engineering attacks targeting Ethereum users.
The initiative focuses on tracking attacker infrastructure more closely and neutralising large-scale campaigns that exploit wallet approvals rather than smart contract vulnerabilities.
SEAL said it launched the Trillion Dollar Security initiative with the Ethereum Foundation after approaching the foundation late last year to discuss funding for security engineers dedicated to monitoring drainer activity.
The programme aims to strengthen Ethereum’s defences as phishing and impersonation scams become more sophisticated and harder for users to detect.
Huge thanks to the @ethereumfndn for sponsoring a security researcher to work with SEAL Intel and disrupt drainers targeting Ethereum users!
Dedicated engineer joins SEAL intelligence team
As part of the sponsorship, the Ethereum Foundation is funding a security engineer whose sole task is to work with SEAL’s intelligence team to combat drainers targeting Ethereum users.
SEAL said the role focuses on tracking drainer development, monitoring distribution channels, and supporting efforts to prevent wide-scale attacks before they escalate.
SEAL operates as a coordination layer for crypto security, providing tools for threat intelligence sharing and incident response while also offering legal protection for white-hat hackers involved in defensive activity.
The additional funding is intended to expand capacity and reduce reliance on ad hoc or volunteer-based monitoring.
The Ethereum Foundation publicly acknowledged SEAL’s work following the announcement, posting on X that the organisation has played an important role in protecting the ecosystem from attacks.
The Security Alliance has done important work to combat attacks and the ecosystem has benefited tremendously.
The Ethereum Foundation’s Trillion Dollar Security (1TS) Initiative is proud to support these efforts.
Social engineering scams drive losses
Phishing scammers and crypto drainers typically rely on fake websites or fraudulent emails that impersonate legitimate crypto protocols.
These schemes are designed to trick users into approving transactions that appear harmless but ultimately allow attackers to drain funds from their wallets.
Such tactics have grown more complex over time, shifting away from simple contract exploits toward social engineering that targets user behaviour.
This has increased the need for faster detection, shared intelligence, and coordinated response mechanisms across the ecosystem.
Crypto intelligence platform ScamSniffer estimates that nearly $1 billion in crypto has been stolen through phishing and drainer-related attacks over the years.
However, the firm said losses dropped sharply to $84 million in 2025, marking an all-time low.
SEAL said collaborative efforts between security groups and ecosystem participants have contributed to this decline.
Security dashboard tracks Ethereum risks
Alongside the sponsorship, SEAL and the Ethereum Foundation have launched a Trillion Dollar Security dashboard to track Ethereum’s security posture across six areas.
These include user experience, smart contracts, infrastructure and cloud, consensus protocol, monitoring and incident response, and the social and governance layer.
Each category contains between eight and 29 specific risk controls that are being actively monitored.
The dashboard also highlights priority areas of work that require attention, offering a structured view of risks facing the Ethereum network.
SEAL said the collaboration with the Ethereum Foundation is intended to serve as a model for future partnerships.
The organisation added that it is open to working with other crypto ecosystems interested in sponsoring similar security efforts aimed at protecting users at scale.
The post Ethereum Foundation backs SEAL to curb crypto drainers targeting users appeared first on Invezz
