#EthereumSecurityInitiative

The Ethereum Foundation launched its inaugural “Attackathon” from November 25, 2024, to January 20, 2025, offering $1.5 million in prizes to identify vulnerabilities in the Ethereum protocol. Collaborating with security platform Immunefi, the event featured educational sessions to prepare participants for the challenge. Notable projects like Arbitrum, Wormhole, The Graph, GMX, and Base co-sponsored the initiative, aiming to enhance Ethereum's security through community-driven efforts .

In a related development, Ether.Fi, a liquidity staking protocol, pledged $600 million in Ethereum to secure the Omni Network, an interoperability protocol for Ethereum Rollups. This commitment involves delegating one-third of Ether.Fi's total locked value, amounting to $1.8 billion, to Omni's Active Verification Service. The staked Ethereum serves as a security guarantee, preventing vulnerabilities and asset detachment, and is restaked on EigenLayer .

While Binance has not directly participated in these specific initiatives, it continues to prioritize user protection and security. In 2024, Binance recovered $9.1 million through its Anti-Scam Refund Initiative, issued over 15,000 daily alerts to combat scams, and blacklisted 47,000 malicious addresses. The exchange also completed a SOC 2 Type II security audit, reinforcing its commitment to maintaining high security standards .

These collective efforts underscore the importance of collaboration between blockchain foundations, security platforms, and exchanges like Binance in strengthening the overall security of the crypto ecosystem.