Photo: cointelegraph.com
Crypto Wallet Giants Unite to Combat $400M Phishing Surge with Defense Network
In response to a staggering $400 million in phishing losses in early 2025, MetaMask and major cryptocurrency wallets launched a global phishing defense network to enhance security.
- MetaMask, Phantom, and other major cryptocurrency wallet providers have formed a partnership with the Security Alliance to combat phishing attacks amid rising cyber threats.
- The new phishing defense network aims to create a decentralized immune system for crypto security, utilizing real-time computing to protect users globally.
- Phishing attacks resulted in over $400 million stolen from crypto users in the first half of 2025, highlighting the urgent need for enhanced security measures in the cryptocurrency ecosystem.
Why It Matters
This initiative underscores the increasing challenges posed by phishing in the cryptocurrency space and the need for collaborative defenses. As the crypto market grows, ensuring robust security against such threats is crucial for user confidence and market stability.