SEAL and the Ethereum Foundation created a Trillion Dollar Security dashboard to track Ethereum security as part of efforts to fight wallet drainers. The Ethereum Foundation is sponsoring crypto security nonprofit Security Alliance (SEAL) to “track and neutralize” crypto drainers and other social engineering attackers targeting Ethereum users. SEAL said on Monday that it launched the “Trillion Dollar Security” initiative with EF to support these efforts after reaching out to EF late last year about funding security engineers to more closely track drainer development and protect against wide-scale attacks. The EF is now sponsoring a security engineer whose “sole mission” is to work with SEAL’s intelligence team to combat drainers targeting Ethereum users, said SEAL. Read more
Backpack founder Armani Ferrante says the company’s staff and investors won’t get an allocation at its upcoming token launch to avoid insiders “dumping on retail.” Backpack, a crypto exchange founded by former employees of FTX, says it will launch a 1-billion-supply token in the future, with its distribution schedule tied to its goal of going public in the US. Backpack posted to X on Monday that its token launch will begin with 25% of the intended supply, or 250 million tokens, to become available on a yet-to-be-disclosed launch date. Another 37.5% of the total supply, or 375 million pre-IPO tokens, will be made available “upon achievement of key milestones,” which Ferrante said would include opening in a new region or launching a new product. Read more
Bitcoin’s Fear & Greed sentiment indicator fell to its lowest ever level, leading some analysts to suggest that $60,000 was the bottom for BTC. Does historical data agree? Bitcoin (BTC) pushed back above $71,000 on Monday, after market sentiment indicators across the crypto market dropped to new lows. Some analysts believed that “extreme fear” and upside liquidity may help Bitcoin hold above its yearly-low at $60,000, but others warned that weak market conditions and bearish futures volume may push prices even lower. Key takeaways: Read more