A new nonprofit organization called Security Alliance has launched in the United States to provide support for ethical hackers who can recover funds from exploiters. Led by samczsun, head of security at Paradigm, the initiative aims to unite a team of blockchain security specialists. The organization has three projects in progress, including a hotline for requesting security assistance and war games to help developers prepare for security risks. One of the key offerings from Security Alliance is the Whitehat Safe Harbor Agreement, which provides legal protection and incentives for whitehat hackers to rescue funds that are under active exploit. The group drew its inspiration from the Nomad hack in August 2022 and has already received support from various donors and partners, including the Ethereum Foundation and Vitalik Buterin. With an estimated $2.61 billion lost to hacks and scams in 2023, the launch of Security Alliance is an important step towards bolstering cybersecurity in the crypto industry. Read more AI-generated news on: https://app.chaingpt.org/news