Major Crypto Wallets Form Alliance to Combat $400M Phishing Threat

Leading cryptocurrency wallets MetaMask, Phantom, WalletConnect, and Backpack have joined forces with the Security Alliance (SEAL) to establish a global phishing defense network. This initiative comes in response to blockchain security firm CertiK's report that over $400 million was stolen through phishing scams in the first half of 2025.

The collaboration aims to create a "decentralized immune system for crypto security," as described by SEAL. MetaMask's team emphasized the collective strength of this approach: "Security gets stronger when we work together." The network leverages SEAL's verifiable phishing reports system, enabling real-time threat alerts across all participating wallets without centralized oversight.

This system allows security researchers to validate malicious sites before warnings are issued, creating a rapid-response mechanism against phishing attempts. Valid reports from any participant automatically trigger network-wide alerts, significantly reducing the window of vulnerability for users across the ecosystem.