Defi

April

<p class="is-style-lead">Over 30 defi security veterans announced phase two of their web3 protection initiative, SEAL-ISAC.</p> 
<p>Paradigm researcher Samczsun shared details on an expansion of SEAL 911, a first responder Telegram bot that allows users to report defi hacks and crypto exploits in real-time. The white-hat actor said SEAL 911 has collected piles of information, such as attacker wallet addresses and hack vectors, since its launch last year.&nbsp;</p> 
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 <p>“There are large swaths of threat intel hidden away in private messages and group chats, intel that might help in recovering funds, tracking down a threat actor, or identifying future victims.”</p> <cite><a href="https://x.com/samczsun/status/1780586104506531948" target="_blank" rel="">Samczsun</a>, Paradigm researcher and SEAL 911 member</cite>
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   <p lang="en" dir="ltr">Today, we're launching the latest <a href="https://twitter.com/_SEAL_Org?ref_src=twsrc%5Etfw" target="_blank" rel="">@_SEAL_Org</a> initiative, and it's going to change crypto security forever. It's called SEAL-ISAC, and this is why we need it <a href="https://t.co/Ra6Vl3jfd3" target="_blank" rel="">pic.twitter.com/Ra6Vl3jfd3</a></p>— samczsun (@samczsun) <a href="https://twitter.com/samczsun/status/1780586104506531948?ref_src=twsrc%5Etfw" target="_blank" rel="">April 17, 2024</a>
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<p>Samczsun, also known as Sam, explained that while this trove of data exists, a means to organize, correlate, and distribute the info was previously unavailable. SEAL-ISAC solves this problem, the researcher wrote in an X thread on April 17.&nbsp;</p> 
<p>The ISAC idea is not exclusive to blockchains and cryptocurrencies. Any organization that fosters threat intel sharing may qualify under this category. Most Web2 financial firms leverage the FS-ISAC, and Samczsun believes SEAL-ISAC could serve all of Web3 in the same manner.</p> 
<p> You might also like: <a href="https://crypto.news/key-security-mistakes-that-may-lead-a-defi-project-to-foul-play-opinion/" rel=""> Key security mistakes that may lead a defi project to foul play | Opinion </a> </p> 
<p>AMLBot CEO <a href="https://crypto.news/amlbot-ceo-security-is-improving-despite-over-126m-lost-in-january-crypto-hacks/" target="_blank" rel="">Slava Demchuk</a> previously told crypto.news that collaboration between defi communities and crypto participants is paramount to improving on-chain security. </p> 
<p>SEAL-ISAC builds on its rhetoric and liaises with multiple blockchain stakeholders, such as the Ethereum (<a href="https://crypto.news/price/ethereum/" rel="">ETH</a>) Foundation, Chainlysis, and MetaMask. The defi help desk also confirmed monetary support provided by <a href="https://crypto.news/vitalik-buterin-railgun-deposit-ethereum/" target="_blank" rel="">Vitalik Buterin</a> and venture capital powerhouse Andreessen Horowitz.</p> 
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   <p lang="en" dir="ltr">And like all other SEAL initiatives, you can access SEAL-ISAC for free. All we ask is that you submit a short application<a href="https://t.co/ewT2XIXPbN" target="_blank" rel="">https://t.co/ewT2XIXPbN</a></p>— samczsun (@samczsun) <a href="https://twitter.com/samczsun/status/1780586113964614140?ref_src=twsrc%5Etfw" target="_blank" rel="">April 17, 2024</a>
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<h2 class="wp-block-heading" id="seal-911-assembled-after-defi-hack-onslaught">SEAL 911 assembled after defi hack onslaught</h2> 
<p>SEAL 911 comprises dozens of auditors, crypto whitehats, and security experts to stem defi hacks. The idea was launched in August last year after bad actors stole over $70 million from Ethereum-based stablecoin exchange <a href="https://crypto.news/curve-finance-exploiter-returns-12-7-million-of-stolen-funds/" target="_blank" rel="">Curve</a>.&nbsp;</p> 
<p>Curve Finance was only one of several attacks at the time, as criminals like North Korea’s Lazarus group stole hundreds of millions in crypto from blockchain users. Peckshiled analysts <a href="https://crypto.news/crypto-investors-lost-nearly-2b-over-600-incidents-in-2023-data-shows/" target="_blank" rel="">estimated</a> that hackers stole over $2 billion from 600 incidents last year.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/north-korea-set-new-record-by-number-of-crypto-hacks-in-2023-data-shows/" rel=""> North Korea set new record by number of crypto hacks in 2023, data shows </a> </p>

Defi white hats SEAL 911 unveil info-sharing tool

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