Web3 Security Experts Launch Telegram Bot For DeFi Hack Victims

A new telegram bot, dubbed Seal 911, is an experimental security solution spearheaded by a group of Web3 security experts to provide a hotline in case of crypto emergencies.

Multimillion-dollar hacks and exploits have become all too common in Web3, with losses amounting to at least $303M in July alone, according to security firm Certik.

With so much at risk, the idea of creating an emergency network struck a chord with a number of security-minded folks in the Web3 sector who have banded together to build the Seal 911 bot.

“Our experimental solution: a Telegram bot which anyone can use during emergencies to get in touch with trusted members of the security community and their extensive network of contacts,” wrote Paradigm's head of security, samczsun.

So far, a number of experts from projects such as Paradigm, ConsenSys, MetaMask, Yearn, and Polygon, as well as independent researchers have come forward to support the initiative.

Users who send a private direct message to the bot can click the “I have an emergency” button, and an available expert will answer the call.

Lack Of Reliable Resources

If disaster strikes in Web3, the right security expert can make all the difference, but for everyday users, knowing exactly who to turn to can be difficult in a decentralized ecosystem where no single entity is in charge.

“The effort so far has also revealed that there is a serious lack of resources available for your average crypto person who observes, investigates, or has lost money due to a hack, exploit, scam, rug pull, or phishing site,” MetaMask developer Taylor Monahan, who is involved with the initiative, told The Defiant.

“There are so many instances where people want to share information and/or get the word out about a bad thing that is happening, but have no idea how to best do so,” Monahan continued.

Fake First Responders

Scammers often reply to public posts regarding exploits, advertising the ability to recover lost user funds, only to offer up phishing links, according to Monahan.

“It's also often unclear to end-users who they should inform and what would be most productive. For example, if a project's Twitter is taken over by hackers and blasts out a malicious URL to a fake airdrop scam related to a separate project, should the user ping the original project, the project the airdrop scheme was impersonating, their wallet software, or someone else?” Monahan asked.

Monahan thinks the industry should make an effort to compile and share best practices people can use in terms of warning of an exploit or spreading information surrounding the actions of malicious actors.

“SEAL 911 is obviously one of those resources but, given the diversity of Bad Things™ that happen in this industry, real progress will likely only come from a variety of efforts stemming from a variety of groups and people inside this ecosystem,” said Monahan.