Crypto Wallet Giants Join Forces to Launch Global Defense Network After $400M Phishing Surge

Leading crypto wallet providers have collaborated with Security Alliance (SEAL) to establish a global phishing defense network. Companies such as Phantom, MetaMask, Backpack, and WalletConnect created this alliance in order to fight against cybercriminals who were successful in hacking $400 million out of the crypto wallets during the first half of 2025.

Announcing the partnership on Wednesday, MetaMask stated, “We’ve joined forces to launch a global phishing defense network that can protect more users across the entire ecosystem.” The collaboration aims to create what SEAL describes as a “decentralized immune system” for crypto security, a shared infrastructure allowing wallet providers and users worldwide to detect and neutralize phishing threats in real time.

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The system integrates with SEAL’s recently launched verifiable phishing reports, a tool that lets researchers confirm the authenticity of malicious site claims. This mechanism helps ensure that verified phishing websites are swiftly blacklisted across all participating wallets, tightening the industry’s collective defenses.

According to SEAL, the fight against phishing has intensified as crypto drainers, malicious scripts that siphon funds from unsuspecting wallets, continue to evolve. Attackers now deploy tactics like rotating landing pages, offshore hosting, and cloaking techniques to evade detection. “Drainers are a constant cat-and-mouse game,” explained Ohm Shah, MetaMask security researcher. He emphasized that working alongside SEAL enables wallet developers to respond faster and “throw a wrench at the drainer’s infrastructure.”

The network establishes an automated, end-to-end pipeline where user reports are validated, distributed, and enforced across all connected wallets. Any verified report can instantly trigger phishing warnings across the ecosystem, without centralized permissions or delays.

“This means quicker response times to new phishing threats and more funds saved,” SEAL noted, adding that the goal is to expand coverage to every major crypto wallet. With phishing attacks accounting for the largest share of crypto-related hacks this year, the alliance marks a crucial step toward a more resilient, community-driven security framework for the digital asset industry.

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