Hackers are creating increasingly advanced techniques to breach cryptocurrency wallets.
SEAL seeks to turn phishing reports into a global protection mechanism.
Several companies in the cryptocurrency ecosystem have joined together to create a collaborative network, designed to defend users from phishing attacks in real time. Among the participants are MetaMask, WalletConnect, Backpack, the Security Alliance (SEAL) and Phantom, which now incorporate an additional layer of security thanks to the technology known as Verifiable Phishing Reports.
This system, developed by SEAL—a nonprofit security research firm—allows anyone in the world to reliably report fraudulent sites. In addition, it offers users the opportunity to actively participate in defending against phishing, thus strengthening the security of the entire community.
According to the organization’s official portal, in recent years Cybercriminals have developed increasingly sophisticated methods to empty wallets of cryptocurrencies, using malware such as Inferno Drainer, Angel Drainer and Ace Drainer.
In this way, they point out that every security measure implemented by companies, from quick updates to automatic blocking of malicious URLs, has been countered by attackers with new techniques. This dynamic has turned the fight into a constant game of “cat and mouse”, in which hackers usually maintain the advantage.
Representatives of the entity affirm that the arrival of the Verifiable Phishing Reporter tool brings important changes, since it makes it easier to process complaints automatically and in real time, eliminating the need for lengthy manual reviews and reducing errors.
By joining MetaMask, WalletConnect, Backpack and Phantom, SEAL can channel phishing reports submitted by users to create a global defense system. This will take advantage of the decentralized network of cryptocurrencies so that the action of a single person contributes to protecting the entire community.
A strategic alliance to defend against phishing
Specialists from the participating companies highlighted the benefits of this cooperation. Ohm Shah, security researcher at MetaMask, stated that thanks to it, his teams will be more agile when it comes to hindering the operations of cybercriminals.
For his part, Derek Rein, Chief Technology Officer (CTO) of WalletConnect, pointed out that, thanks to WalletConnect Certified – a certification program that ensures that connected wallets meet certain security standards – each certified wallet warns users when they come across known scam sites.
Rein said that collaborating with SEAL, which provides its database of fraudulent domains, allows these protections to be further expanded, encouraging the adoption of stronger security standards throughout the industry.
Backpack and Phantom also highlighted the importance of this alliance. Armani Ferrante, CEO of Backpack, noted that SEAL’s real-time protection allows users to interact with the ecosystem more securely. For her part, Kim Persson, senior engineer at Phantom, indicated that the collaboration will strengthen the security of the domains and more effectively protect the platform’s users.
It is important to highlight that, as reported by CriptoNoticias, in August 2025 alone, more than 12 million dollars were stolen from cryptocurrency users through phishing scams, which represents an increase of 72% compared to the previous month. In addition, it is estimated that more than 15,000 people were affected.