Phishing Defense Network Launch: A United Front Against Scams

As hacks and scams continue to plague the crypto industry, leading wallet platforms have joined hands to launch a global phishing defense network. In collaboration with the Security Alliance (SEAL), platforms including MetaMask, Phantom, WalletConnect, and BackPack are taking a landmark initiative to safeguard users against surging attacks.

Notably, this strategic development comes in response to rising concerns over cyberattacks. As per recent reports, crypto phishers have stolen more than $400 million in the first half of 2025 alone.

Wallets Join Against Cyberattacks

In a recent X post , MetaMask announced the launch of the phishing defense network, in collaboration with crypto wallet giants and SEAL. The platform noted, “We’ve joined forces to launch a global phishing defense network that can protect more users across the entire ecosystem.”

Significantly, this decentralized system brings together major wallet providers, including MetaMask, Phantom, WalletConnect, and Backpack, combining their resources to strengthen real-time threat detection. As per SEAL’s statement, the project is designed to create a “decentralized immune system” for cryptocurrency protection. The Security Alliance’s X post stated,

“We are launching a global real-time phishing defense network alongside MetaMask, WalletConnect, Backpack, and Phantom! This allows us to create a decentralized immune system for crypto security where anyone from around the world can prevent…attack.”

The system will also work alongside SEAL’s recently launched “verifiable phishing reports” tool, which allows researchers to cryptographically confirm that a flagged website indeed hosts vulnerable content.

Crypto Drainers Drive Cyber Attacks

According to SEAL, the surge in similar incidents is largely driven by crypto drainers, which have been rapidly evolving to outsmart conventional protection measures. These threat actors have grown more sophisticated, rotating landing pages frequently to outpace blocklists, migrating to offshore hosting when providers intervene, and deploying cloaking methods to slip past automated detection tools.

According to CertiK, these scams were the most common type of security breach in the first six months of 2025, leading to losses exceeding $400 million in cryptocurrency. The latest move intends to tackle this issue; user-submitted reports are instantly verified and shared among all member wallets, ensuring faster, ecosystem-wide defense against emerging scams. The platform added,

“Anyone with a valid report is able to trigger a phishing warning across network participants in real time and without any special permissions...This means quicker response times to new…threats and more funds saved. We want to bring this data to as many wallets as possible.”

By working with the SEAL, wallet teams can move faster and put new security insights into practice. This allows for throwing a “wrench at the drainer’s infra,” stated Ohm Shah, a security researcher at MetaMask . He added, “Drainers are a constant cat and mouse game.