MetaMask and Phantom Lead Global Phishing Defense After $400M in Crypto Scams

NEW YORK, Oct. 22, 2025 – MetaMask and Phantom, two of the crypto industry’s largest wallet providers, have launched a global anti-phishing alliance. This move is a direct response to sophisticated scams that have drained over $400 million from users this year.

The alliance marks a pivotal moment for the Web3 sector, signaling that the ecosystem is now taking a non-negotiable, collaborative stance. Ultimately, it aims to combat the growing threat of wallet drainers and restore user trust.

Surge in Sophisticated Attacks Prompts Action

A dramatic rise in advanced phishing attacks prompted the move. According to security firm SlowMist, attackers are deploying increasingly deceptive tactics, from “ice phishing” to malicious airdrops, designed to trick users into granting permissions that empty their wallets.

As a result, this surge made it clear that isolated security measures were no longer sufficient, compelling the need for a unified, cross-platform crypto phishing defense.

A Unified Defense: How the System Operates

At the heart of the initiative is a real-time intelligence feed shared between the participants and security partners like Blockaid.

For instance, when one provider identifies a malicious smart contract or fraudulent domain, they instantly share its signature across the alliance. This then allows all participating wallets to proactively warn users or block transactions. The result is a powerful, collective shield that operates faster than attackers can pivot.

Rivals Unite: A “Shared Responsibility”

Industry leaders frame the alliance as a matter of ecosystem survival. “Security cannot be a competitive moat when user funds are at risk,” a MetaMask spokesperson commented. “Instead, this is about shared responsibility for the health and integrity of the entire Web3 space.”

An official from Phantom echoed this sentiment, stating, “We are building a hostile environment for scammers. The crypto security alliance allows us to pool our defensive resources for maximum impact. After all, how can this cooperation outpace the rapid innovation of cybercriminals?”

Regulatory Scrutiny Looms as Losses Mount

The staggering financial losses have also intensified scrutiny from global regulators. Agencies including the U.S. SEC have become more vocal about consumer protection in digital assets, as reported by Bloomberg.

Consequently, the crypto industry now faces more pressure to self-regulate. This is a crucial effort to demonstrate accountability before governments impose stricter, and potentially less flexible, mandates.

Broader Implications: A New Security Standard for Web3

This partnership is poised to set a new precedent for the DeFi industry, establishing a potential model for all wallet and dapp providers to follow.

Furthermore, the framework should encourage other wallet providers to join, creating a nearly universal defense standard. Such a move is critical for attracting and retaining mainstream users who are evaluating the best crypto platforms of 2025 and, therefore, demand robust safety guarantees.

Outlook: Restoring Trust in a Fractured Ecosystem

Ultimately, a tangible reduction in user losses will measure the success of this alliance. The move shows a maturing industry acknowledging that long-term stability depends on a secure and trustworthy user experience.

For a decentralized world, this coordinated defense presents a compelling new model. Indeed, this could be the beginning of a safer, more resilient Web3.

Recap

• MetaMask and Phantom, top crypto wallet rivals, have formed a global anti-phishing alliance.
• The initiative is a response to sophisticated scams that have stolen over $400 million this year.
• It operates via a shared, real-time threat intelligence feed with security firms.
• The collaboration aims to restore user confidence and preempt harsh regulatory action.