- The Security Alliance organization aimed at fighting crypto-fraudsters has been launched in the United States.
- It is headed by the head of the security service of the Paradigm Foundation.
- The platform provides legal protection of white hats and offers developers free simulation of cyberattacks.
In the United States, a non-profit organization Security Alliance has emerged, which will investigate hacks and hacker attacks targeting cryptocurrencies.
Hello world!https://t.co/TGnBW0aqGo
- Security Alliance (@_SEAL_Org) February 14, 2024
The cybercrime project was headed by a specialist under the pseudonym Samczsun. It is known that he heads the security department of the Paradigm venture fund and is a white hat. This is the name given to computer security experts who seek to identify vulnerabilities in the current system in order to help developers make the product more secure.
“Our philosophy is to serve the community. Under Samczsun’s leadership, we develop incentives to turn competitors into collaborators and launch consensus projects,” the alliance explained.
As part of the initiative, Security Alliance has launched a hotline for quick incident response, vulnerability identification and other security issues. The platform also provides legal protection for white hats and offers developers free simulated cyberattacks to identify vulnerabilities and prepare effective defense measures.
According to Samczsun, when the 2022 Nomad protocol hack occurred, many third-party cybersecurity experts were unable to help because they did not have their employer’s authorization. After the incident, he decided to create the Security Alliance.
It all started from the Nomad hack. The war room was stressful, and the security community collectively looked back and wondered, “how did we get to a point where random people felt comfortable stealing money from the bridge, but whitehats felt it was too risky to intervene?”
- samczsun (@samczsun) February 14, 2024
According to the website, the project’s partners include Ethereum Foundation, a16z, Paradigm, Vitalik Buterin, Filecoin Foundation, Coinbase, Dragonfly, Framework, Electric Capital and many others.
According to Hacken, hacking and scam losses totaled $1.9 billion in 2023. Meanwhile, losses from hacking attacks decreased by 54.3% in 12 months, according to Chainalysis.
