(Public) SEAL Whitehat Safe Harbor Agreement

FAQ

SEAL’s Whitehat Safe Harbor agreement is a legal and technical framework which can be adopted by protocols and crypto communities to grant advanced permission to whitehats and MEV bots for frontrunning exploits so long as:

  1. Funds are returned to a designated Asset Recovery Address determined by the protocol.
  2. Action is only taken in the event of an Active Exploit.

By adopting Safe Harbor, protocols and whitehats can work together to increase their chances of recovering funds in the event of an attack.

Protocol Explainer Video.mp4

Why You Should Care

Currently, the process for fund recovery during an active exploit is a Wild West. There are no standards or protections for ethical Whitehats hoping to help prevent the next hack. Those who intervene do so without any legal protection or assurance of reward.

As of 2023, just 20% of stolen assets are recovered. With Safe Harbor we aim to approach 100%

Hacken 2023 Security Report

Hacken 2023 Security Report

Safe Harbor defines clear guidelines for what a Whitehat can and cannot do to protect your protocol, as well as what happens after protection occurs.

  1. A higher chance of fund recovery: In the event of an attack on your protocol, whitehats will be more likely to step in and your funds are more likely to be returned.
  2. Guide of how Whitehats operate: When adopting Safe Harbor, you can define certain adoption details. These details specify bounty terms for successful Whitehats, what assets should be protected, where recovered funds should be returned, and KYC requirements prospective Whitehats must follow.
  3. Systematic & Financial Premonition: Safe Harbor helps answer the question “what next” after a hack targeting your protocol. The agreement specifies how Whitehats should return your funds and the maximum bounty they can receive, letting you better plan ahead.

How to Adopt Safe Harbor