Ethereum Foundation backs SEAL to combat rising threat of crypto drainers

Crypto security nonprofit Security Alliance has received a sponsorship from the Ethereum Foundation as it ramps up efforts to curb crypto drainers and other attack vectors targeting Ethereum users.

According to SEAL, the Ethereum Foundation has sponsored a security engineer through the nonprofit’s “Trillion Dollar Security” initiative after it reached out to the foundation late last year.

In line with SEAL’s objective, the security engineer’s “sole mission is working with the SEAL Intel team to track and neutralize drainers targeting Ethereum users,” the nonprofit said.

Crypto drainers are a category of malicious scripts or toolkits that are often sold or shared among bad actors as a payable service across underground forums and allow anyone to launch phishing campaigns without any technical expertise.

“These scammers deploy fake websites imitating trusted protocols to convince the user to approve a few simple transactions in their wallet. If the user does, their wallet is quickly drained of all valuable assets,” SEAL said.

Notorious drainers like Angel and Inferno have constantly evolved to bypass traditional security measures, and new versions have surfaced even after reported shutdowns.

Data from crypto intelligence platform ScamSniffer, cited by SEAL, estimates that such attack vectors have led to nearly $1 billion worth of losses over the past few years. 

SEAL aims to counter such systemic threat vectors through its comprehensive Trillion Dollar Security dashboard that provides real-time visibility to track six critical security dimensions, such as user experience, smart contracts, infrastructure, consensus protocol, monitoring and incident response, and social layer governance.

“Our collaboration with the Ethereum Foundation is the first of many planned initiatives with forward-thinking ecosystems,” SEAL said, adding that other foundations or crypto ecosystems can reach out to explore similar sponsorship models designed to protect users at scale.

According to SEAL, its efforts have played a part in reducing drainer-related losses to an all-time low of $84 million in 2025.

An industry-wide effort

SEAL was developed by white-hat hacker and security researcher samczsun in 2023, and since its inception, it has offered rapid-response infrastructure and collaborative threat intelligence tools to help mitigate on-chain exploits and phishing campaigns.

Last year, MetaMask and Phantom wallet joined SEAL as part of its real-time phishing defense network, alongside other major players like WalletConnect and Backpack, to help deliver real-time security against phishing attacks.