The white-hat hacker, known by the pseudonym Samczsun, is also the head of security at the cryptocurrency venture Paradigm and has created a new crypto security operation.
The Security Alliance, also known as SEAL Org, gives cryptocurrency users affected by hacks and other security incidents access to a 24/7 emergency hotline. The platform also gives legal protection to white hat hackers when rescuing funds under active exploitation, and allows Web3 developers to simulate hostile cyberattacks on an organization's systems to check for vulnerabilities. , provides free red team exercises to prepare for an efficient response.
“It all started with the Nomad hack,” says Samczsun. explained in a social media thread Wednesday. Nomad is a crypto bridge that experienced his $190 million exploit in August 2022 consisting of hundreds of malicious attackers.
War room
“The war room is stressful, and the security community has to collectively turn around and say, 'How can random people feel comfortable stealing money from bridges, but white hats are too risky to intervene? I wondered, 'How did we get to a situation where it felt like it was too much?'” he continued.
According to its website, Security Alliance donors and partners include Ethereum Foundation, A16Z Crypto, Paradigm, Vitalik Buterin, Filecoin Foundation, Coinbase, Dragonfly, Framework, Electric Capital, and more.
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