A team of white hat hackers called the Security Alliance (SEAL) has said it recovered $50 million in assets since its inception in 2023 and has launched a threat-sharing platform to support the crypto space.

On April 17, the alliance announced its free Information Sharing and Analysis Center (ISAC) called SEAL-ISAC — a platform purpose-built for crypto aiming to protect against cyberattacks and financial crimes by providing security intelligence and connections to experts.

Its features include information sharing, threat analysis and alerts, best practices, incident coordination and response and education on security best practices and threats.

Nearly two dozen major crypto organizations, including the Ethereum Foundation, Polygon, Uniswap Labs, Chainalysis and MetaMask, have joined the initiative as early participants.

The platform is built on the open-source Open Cyber Threat Intelligence Platform (Open CTI) and supports centralized and decentralized crypto entities.

The ISAC integrates with SEAL’s other initiatives, such as its SEAL 911 crypto security incident response — a Telegram messenger channel where a team of around 40 white hat hackers can pick up reports of hacks in progress and assist in real time.

Related: Crypto hack losses declined 51% in 2023: Report

Crypto markets are poised to enter another bull cycle following a decline in hack losses in 2023.

More than $7.7 billion has been stolen in crypto hacks since 2016 — the majority pilfered from major exploits in 2021 and 2022, according to DefiLlama.

SEAL team member and Paradigm security head “Samczsun,” told Cointelegraph Magazine in March that the increasing complexity of crypto-related hacks is “the equivalent of taking a college-level course on quadratic equations.”

“Things are getting harder, but it’s a good sign we are forcing the hackers to solve more and more complicated problems,” they added.

Magazine: ‘SEAL 911’ team of white hats formed to fight crypto hacks in real time