The Ethereum Foundation made a formal announcement on Feb., 9, 2026 that it has partnered with the Security Alliance (SEAL), a cryptocurrency security-focused non-profit group, to identify and eliminate “wallet drainers” targeting Ethereum users. The alliance will also create stronger defense mechanisms against social engineering scams throughout the entire Ethereum ecosystem.
Ethereum Foundation Funds Specialized Position
SEAL reported that the program, referred to as the “Trillion Dollar Security,” was created after meetings with the Ethereum Foundation.
The goal of the initiative is to create better threat intelligence and increase communication between security teams. It is also developing tools capable of detecting malicious activity before it spreads broadly throughout the ecosystem.
According to SEAL, the position funded by the foundation will work directly with the Security Alliance’s intelligence team. It has a dedicated security engineer who will monitor drainer development, provide intelligence on the emergence of new scam methods, and assist in preventing major exploits.
“The Security Alliance has provided significant contributions in combating attacks, and the ecosystem has benefited greatly,” stated the foundation in a public statement responding to the announcement.
SEAL also reported that the new role will enable the group to intervene much faster than previously possible when threats are identified. Additionally, the nonprofit stated that its larger mission is to collaborate on intelligence-sharing and to implement coordinated incident response to protect cryptocurrency users.
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A Common Threat In The Cryptocurrency Industry
Drainers continue to represent one of the most common threats facing the cryptocurrency industry today. Typically, attackers will create imitation websites or send phishing emails to unsuspecting users, pretending to be the legitimate cryptocurrency platforms.
Once the users unknowingly agree to a transaction that appears harmless, the attacker will secretly transfer the funds from the user’s wallet.
ScamSniffer, a cryptocurrency intelligence platform, estimates that hackers have stolen approximately $1 billion in cryptocurrencies since the inception of the cryptocurrency space.
However, through the cooperative efforts of SEAL and many other security organizations, the overall loss of cryptocurrencies in 2025 decreased to $84 million. This represents an all-time low in terms of overall crypto losses.
Although the losses in cryptocurrency have dramatically decreased, security professionals state that the phishing tactics used by hackers are becoming increasingly sophisticated. Therefore, proactive monitoring is necessary as the use of cryptocurrency continues to grow.
Dashboard Displays Status Of Ethereum Security
To further support the initiative, SEAL and the Ethereum Foundation released a public version of the Trillion Dollar Security dashboard. The dashboard provides a view of Ethereum’s security details in six areas.
These are user experience, smart contracts, infrastructure, consensus protocols, monitoring systems, and governance. Each category contains risk controls and priority items that must be accomplished to achieve a safer environment for the ecosystem.
SEAL stated that the partnership with the Ethereum Foundation represents the beginning of what it expects to be a number of future collaborations with various blockchain ecosystems.
Source: Trillion Dollar Security
Why It Matters
Improving wallet security directly impacts investor losses and contributes to building confidence in Ethereum-based applications.
With Ethereum enabling users to participate in decentralized finance activities, having improved defenses against phishing attacks will be crucial to the continued success and growth of the ecosystem.
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