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“Trillion Dollar Security” Launches to Guard Ethereum Users

Key Takeaways

  • SEAL and the Ethereum Foundation launch a joint security effort that aims to reduce wallet drainer attacks and other social-engineering threats;
  • The EF funds a full-time engineer who works inside SEAL’s intelligence team and focuses on tracking active drainer tools and large-scale attacks;
  • The new “Trillion Dollar Security” dashboard maps risks across key Ethereum areas and sets priority tasks for future ecosystem protection.

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“Trillion Dollar Security” Launches to Guard Ethereum Users

SEAL and the Ethereum Foundation (EF) have started a joint effort to improve protection for people using Ethereum ETH $2,011.05 .

The EF will now fund a full-time security engineer who focuses solely on tracking and stopping wallet drainers and other social engineering attacks.

SEAL said this role will operate within its intelligence team and focus on active threats targeting Ethereum users.

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SEAL noted that it approached the EF at the end of last year to request support for this work. The goal was to monitor drainer tools more closely and reduce the impact of large, coordinated attacks.

The result of those talks is a shared initiative called “Trillion Dollar Security".

A key part of this initiative is a dashboard that measures Ethereum’s security across several areas. The dashboard looks at user experience, smart contracts, infrastructure and cloud, the consensus protocol, monitoring and incident response, and the social and governance layer.

Each area includes a list of risk controls that SEAL and the EF follow, as well as items marked as “priority work” that need attention sooner rather than later.

After the announcement, the EF stated on X that SEAL’s work has been useful for the broader ecosystem.

SEAL said this collaboration is only the first step. The group plans to work with other ecosystems and invites any foundation or project to discuss similar sponsorship models.

Recently, the Ethereum Foundation formed a Post Quantum (PQ) team to protect the network from future quantum computing threats. What did researcher Justin Drake say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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