DeFi gets a ‘SEAL’ team as white hat hackers, auditors join forces

While ill-gotten gains from exploits are significantly down from the same period compared to last year, hacks continue to pose a clear danger for budding DeFi ecosystems


Camp1994/Shutterstock, modified by Blockworks


One week since Curve Finance’s $70 million exploit and almost three-quarters of the stolen funds have been returned. But the crypto community remains on high alert. 

In response, Sam (@samczsun), research partner and head of security at Paradigm, has announced a collaborative initiative with white hat hackers, auditors and security leaders.

Together they aim to solve disclosure in cybersecurity, particularly as a means for those seeking to quickly avert potentially hundreds of millions of dollars in DeFi hacks and exploits.

“The hardest part of responsible disclosure is finding the right person to talk to,” Sam tweeted Tuesday, sharing insights into the effort. 

The solution: SEAL 911, a Telegram bot that provides a streamlined contact platform with vetted security professionals.  The hope is that the channel will rapidly gain widespread attention and support, not only from the broader community but also from security experts and organizations. 

Members include representatives from Wallet Guard, Origin Protocol, ChainSecurity, MetaMask, and more, all committing to lend their expertise during emergencies. 

The initiative aligns with recent hacks that have rocked the DeFi sector. Curve Finance’s exploit, caused by a reentrancy lock malfunction, resulted in CRV’s price dropping from $0.73 to $0.49 in 48 hours. 

Euler Finance’s $200 million loss in March, and subsequent recovery, has contributed to more than $800 million in industry losses this year, a stark improvement over 2022.

Between January 2022 and November 2022, hackers stole $4.3 billion worth of crypto, marking a 37% increase compared to the same period in 2021, Blockworks previously reported.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million


Plus, funds go to a platform making development on Solana easier