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Leading crypto wallet providers MetaMask, Phantom, WalletConnect, and Backpack have launched a real-time phishing defense network after scammers stole over $400 million in cryptocurrency during the first half of 2025.
The initiative, built with the Security Alliance (SEAL), creates what organizers call a “decentralized immune system” that shares verified phishing reports across platforms instantly—allowing wallets to block fraudulent activity before it spreads.
The timing reflects growing urgency as phishing campaigns increasingly target retail investors drawn to digital assets through spot Bitcoin ETF approvals.
“We’ve joined forces to launch a global phishing defense network that can protect more users across the entire ecosystem,” MetaMask team, in an official statement on X.
SEAL emphasized that the phishing defense network will enable verifiable and transparent reporting of malicious sites, helping wallets and users identify and block new scams in real time.
The new phishing defense network will operate alongside SEAL’s recently introduced verifiable phishing reports system, which allows researchers to confirm whether suspicious websites genuinely contain malicious content. This verification mechanism marks a significant step forward for community-driven security, offering a decentralized alternative to traditional centralized monitoring systems.
According to SEAL, the initiative’s goal is to make crypto security collaborative and adaptive. By connecting major wallets, the network creates an ecosystem capable of sharing verified threat data instantly — allowing for faster reaction times when new phishing campaigns emerge.
“The network allows us to create a decentralized immune system for crypto security, where anyone from around the world can prevent the next major phishing attack,” — Security Alliance (SEAL), in an official statement.
The phishing defense network builds on a broader trend within Web3 infrastructure: decentralizing security itself. By empowering wallets and users alike to report and verify threats, it aims to reduce the growing gap between phishing innovations and defensive responses.
The phishing defense network comes amid escalating attacks from so-called crypto drainers malicious actors who trick users into unknowingly signing harmful smart contracts that empty their wallets.
SEAL noted that these drainers have adapted their strategies to evade detection. Tactics now include rotating phishing sites faster than blocklists can be updated, using offshore hosting providers, and deploying cloaking methods to disguise scam content from automated security tools.
“Drainers are a constant cat and mouse game,” — Ohm Shah, Security Researcher, MetaMask.
Shah explained that working with SEAL allows wallet teams to apply cutting-edge research directly to practice, “effectively throwing a wrench at the drainer’s infrastructure.” This kind of coordination, enabled by the phishing defense network, ensures that security fixes can roll out across multiple wallets simultaneously — narrowing the window for attacks.
The phishing defense network uses an end-to-end pipeline that allows user-submitted phishing reports to be automatically verified and shared across all participating wallets. Once verified, these reports trigger real-time phishing warnings without the need for special permissions, making the defense process transparent and community-driven.
“Anyone with a valid report is able to trigger a phishing warning across network participants in real time and without any special permissions,” SEAL said.
This decentralized model means that a single verified report can immediately protect millions of users across connected wallets. The organizations behind the initiative hope that by scaling the phishing defense network across the industry, they can drastically cut down the financial and reputational damage caused by crypto scams.
According to blockchain security firm CertiK, phishing attacks represented the highest number of security incidents in early 2025, contributing to over $400 million in stolen digital assets. The data underscores why MetaMask and its partners believe that collective action through a phishing defense network is now critical.
For crypto investors, the establishment of the phishing defense network marks a shift toward proactive, shared responsibility in securing digital assets. As phishing attacks grow more sophisticated, the alliance between major wallets represents a significant evolution in how the industry responds to cyber threats.
By decentralizing the defense process and engaging both developers and users, the phishing defense network could become a model for future blockchain security initiatives — one where transparency and collaboration form the foundation of trust in crypto.
