June 4, 2024
Security researchers play a crucial role in helping crypto projects stay secure by identifying and disclosing vulnerabilities so that they can be mitigated. By fixing software flaws before a malicious actor can exploit them, security researchers help protect consumers and digital asset holders from data breaches or loss of crypto. The elite security researchers and incident response experts who contribute to the Security Alliance (SEAL) have already saved over 50 million dollars. Additionally, SEAL’s Whitehat Safe Harbor Agreement helps facilitate the legal transfer of digital assets in the event of an active exploitation.
Leveraging good-faith security research is an important contribution to maturing the security of the crypto ecosystem. However, a lesson security researchers learned from web2 (often through painful experiences) is that this important work can sometimes lead to significant legal risks and subsequent costs, particularly when their research and disclosures are unwelcome or misunderstood. Therefore, it’s essential to have a legal defense fund specifically dedicated to supporting them.
We’re excited to announce a new initiative in collaboration with the Security Research Legal Defense Fund (SRLDF) to assist eligible whitehats who use the Whitehat Safe Harbor Agreement in good faith to protect the crypto ecosystem. Whitehats that face legal threats or lawsuits due to good faith security research can apply for grants from the Security Research Legal Defense Fund to offset the cost of legal representation.
As part of this initiative, SEAL is also making an initial donation to the fund thanks to our generous donors who make our common good initiatives possible including Paradigm, a16z, Electric Capital, Framework, Dragonfly, Paperclip, E-girl Capital, the Ethereum Foundation, and the Filecoin Foundation.
The Security Research Legal Defense Fund is a 501(c)(3) nonprofit run by highly respected attorneys and policy experts. The SEAL Whitehat Safe Harbor Agreement is now included in the grants that can be made under the SRLDF. Eligibility information is available on the Defense Fund’s website.
<aside> 💡 According to the Security Research Legal Defense Fund, some legal “threats can ignore individuals’ rights or misconstrue facts, creating a chilling effect on beneficial security research and vulnerability disclosure, especially for individuals without the resources to finance legal counsel.”
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A dedicated legal defense fund encourages more security researchers to engage in identifying and addressing vulnerabilities in crypto projects. This leads to better overall security and integrity of the crypto ecosystem by fostering a collaborative and safe environment for responsible disclosure and remediation of security issues. Some bug bounty platforms offer researchers the ability to donate to nonprofit organizations and Google currently quadruple-matches donations to the SRLDF made through its own bug bounty program.
Let's support and protect those who work tirelessly to enhance the security of crypto projects for the benefit of the entire community.