White hat hacker group SEAL launches crypto threat-sharing center

A group known as SEAL, or the Security Alliance, composed of ethical hackers, reportedly obtained approximately $50 million in assets since their founding in 2023. They have introduced a threat-sharing platform aimed at bolstering the cryptocurrency sector.

On April 17, the alliance unveiled a free Information Sharing and Analysis Center (ISAC), named SEAL-ISAC, specifically designed for the crypto community. The goal is to safeguard against cyber assaults and financial misconduct by offering security insights and linking members to industry experts.

This tool offers capabilities such as exchanging data, identifying risks and issuing warnings, suggesting optimal procedures, managing crisis situations and reactions, and instructing on current security guidelines and menaces.

Around twenty leading cryptocurrency groups, such as the Ethereum Foundation, Polygon, Uniswap Labs, Chainalysis, and MetaMask, have signed up as initial members of the project.

The platform is constructed using the open-source Open Cyber Threat Intelligence Platform (Open CTI), allowing it to work with both centralized and decentralized cryptocurrency organizations.

The ISAC collaborates with SEAL’s other projects, including their SEAL 911 cryptosecurity incident response – a Telegram messaging group where approximately forty ethical hackers can receive notifications of ongoing cyber attacks and offer instant assistance.

Crypto markets are poised to enter another bull cycle following a decline in hack losses in 2023.

Approximately $7.7 billion has been taken illicitly through crypto hacks beginning in 2016, with a significant portion being stolen during major breaches that occurred in the years 2021 and 2022, as reported by DefiLlama.

White hat hacker group SEAL launches crypto threat-sharing center

A SEAL team member identified as “Samczsun,” who is the head of Paradigm security, explained to CryptoMoon Magazine in March that dealing with crypto-related hacking incidents is as challenging as studying advanced mathematics, specifically quadratic equations, at college level.

“Despite the increasing challenges, this is a positive indication that we’re making progress in making things harder for the hackers as they encounter increasingly complex issues.”

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2024-04-17 17:18