The Ethereum Foundation (EF) has unveiled an aggressive plan to improve application security on its mainnet. Dubbed the “Ethereum Audit Grant,” the $1 million initiative brings together more than 20 security providers, alongside Nethermind, Areta, and Chainlink Labs.
Ethereum-based projects of all sizes will be able to access the program. According to the team, the program will improve the broader security of the Ethereum ecosystem based on the principles of CROPS (censorship, resistance, open source, confidentiality and security).
Commenting on the programme, Findlay Boothroyd, CEO of Areta Market, said
A project that cannot defend itself puts all other safeguards at risk, and we designed this program alongside our partners to help close this gap.
The update follows a similar decision by the Solana Foundation STRIDE Security program after Drift’s $285 million breach. In other words, major Layer 1 networks aren’t taking security for granted in the face of growing institutional interest in the sector.
Crypto hacks increased 96% in March
Cryptocurrency breaches have intensified over the past year and have not slowed down so far in 2026. In 2025 alone, more than $4 billion was lost in the industry, including $2.67 billion due to hacks. Scams contributed to a loss of $1.37 billion, an annual increase of 64% from 2024.
Overall, the $4 billion in lost funds represents a 34% jump from 2024’s $3.01 billion.
In 2026, a PeckShied report showed that there were 20 hacks, resulting in a loss of $52 million in March. This is a 96% monthly increase from February’s $26.5 million.
Oddly enough, the $285 million Drift breach April’s losses alone were nearly four-fold compared to March’s.
However, there have been attempts at compromise Cow exchange and even Kraken. This highlights the constant security threats the industry faces on centralized exchanges and even decentralized platforms.
But the actors seem ready to tackle the problem.
Last week, the US Treasury extended actionable cybersecurity insights routinely shared with traditional financial institutions to cover digital asset companies. This would help players detect and prevent threats early.
In fact, that’s the same reasoning behind the Solana Foundation’s STRIDE security program, also launched last week. Now that the Ethereum Foundation has followed the trend, it remains to be seen whether these security efforts will help reduce the growing number of crypto hacks.
Final summary
- The Ethereum Foundation has launched a $1 million audit grant program, following a similar move by Solana and the US Treasury.
- In March, crypto hacks jumped 96%, resulting in a $52 million loss, and Drift’s $285 million breach nearly quadrupled last month’s losses.
