Ethereum Foundation and SEAL launch initiative against wallet drainers

The Ethereum Foundation has begun a formal collaboration with the nonprofit Security Alliance (SEAL) to combat one of the ecosystem’s most damaging threats – wallet drainer attacks. SEAL announced the launch of the “Trillion Dollar Security” initiative, developed jointly with the foundation, aimed at identifying, tracking, and neutralizing drainers and other forms of social engineering that collectively cause hundreds of millions of dollars in losses each year.

The foundation has funded a full-time security engineer who will work daily with SEAL’s analytical team to monitor the evolution of drainer tooling. SEAL emphasized that this model enables real-time tracking of attacker behavior and allows teams to prevent large-scale incidents before they reach users.

Wallet drainer schemes remain one of the most critical challenges in crypto. These attacks rely on phishing sites, spoofed interfaces, and malicious signatures that trick users into approving transactions that instantly empty their wallets. According to ScamSniffer, losses from such attacks historically approached $1 billion. In 2025, however, damage fell to $84 million – the lowest level on record – due in part to improved coordination between analysts and white-hat researchers.

Beyond reactive measures, the Ethereum Foundation and SEAL introduced the “Trillion Dollar Security” dashboard, which tracks the state of Ethereum security across six domains: user experience, smart contracts, infrastructure and cloud services, consensus, monitoring and incident response, and the social and governance layer. Each category outlines priority risks that teams must address first – from improving UX signatures to strengthening network activity monitoring.

SEAL also stated it is open to collaborating with other blockchain ecosystems. The organization offers similar partnership models that provide dedicated resources to help protect users from drainers. The team noted that scaling such initiatives is essential to reducing systemic Web3 risks.

The initiative is receiving broad community support. Major projects have long called for a permanent security mechanism, as drainer attacks affect everyone – from newcomers to experienced DeFi users. The new partnership with the Ethereum Foundation is seen as a move toward more mature and institutionalized ecosystem protection.

SEAL’s tooling, combined with the Ethereum Foundation’s dedicated engineering support, may form the first durable barrier against wallet drainers – a threat that has remained one of the most complex and fast-evolving in the crypto ecosystem.