MetaMask Leads $400M Push to Stop Global Crypto Phishing: Report

• MetaMask and Phantom unite with SEAL to launch a global crypto phishing defense network.
• The alliance enables real-time scam detection and protection across major crypto wallets.
• Over $400M lost to phishing in 2025 drives the industry’s united push for stronger security.

MetaMask, Phantom and other leading crypto wallets announced today their collaboration on the Security Alliance (SEAL) to launch a global Phishing Defense Network. The partnership comes as frauds involving the crypto space increase. Cybercriminals stole over $400 million from users in the first six months of 2025 alone.

The partnership was announced on Wednesday by MetaMask. The company said that the intention was to make a “unified network” that can detect and stop phishing attacks before they arrive at their intended targets. Now that wallet providers are uniting, it’s a step in the right direction for digital security.

SEAL Builds a Decentralized Immune System for Crypto Security
SEAL referred to the project as a “decentralized immune system” for crypto users. The network unites MetaMask, Phantom, WalletConnect and Backpack. It will real-time propagating between wallets confirmed phishing information. This allows one user to alert all others to a phishing site they’ve stumbled upon within seconds.

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The offering also incorporates SEAL’s new “verifiable phishing reports” capability. This tool helps phishtank.The internet in verifying which websites are hosting phishing links. It is a reliable and transparent way to detect scams. By confirming the reports promptly, SEAL hopes to halt fake sites before they ensnare more victims.

Crypto “Drainers” Evolve as MetaMask and SEAL Fight Back

Crypto “drainers” are an increasingly prevalent menace. These attackers would have links for exchangers, or smart contracts that drain wallets when the users interact with them. Scammers are using some new tricks to avoid getting caught, according to SEAL. They now cycle landing pages more quickly, move hosting overseas and utilize sophisticated cloaking to evade security systems.

“Drainers are a nonstop game of cat and mouse,” said Ohm Shah, a MetaMask security researcher. The collaboration helps wallet teams to be more nimble. He stated:

The defense system offers automated protection to all participating wallets. A user who reports an attempt is validated by SEAL, and the warning is immediately circulated to others. “Now anyone with an authenticated report can send alerts and warnings, network wide, in real time,” SEAL said. This rapid-fire trading could prevent users from experiencing large financial losses.

Data from blockchain security company CertiK makes clear that a new de-trust strategy is needed. Phishing attacks succeed in number, being the second primary cryptocurrency related ones so far in 2025. 

More than 132 known instances led to more than $400 million in losses. There were also particularly painful cases of wallet hacks; thieves stole $1.7 billion in the 34 biggest breaches.

Ethereum remains among the most attacked. CertiK found 70 instances of phishing and exploit in the second quarter, down from 98 in the first. But billions in assets remain vulnerable. Ethereum’s importance in the decentralized finance economy makes it an attractive target for organized cybercrime efforts.

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