Ethereum Foundation launches $1 million audit subsidy to strengthen the security of Ethereum mainnet apps

The Ethereum Foundation (EF) has unveiled an “Ethereum audit subsidy,” a $1 million initiative aimed at improving the security of apps operating on its mainnet. The program will bring together more than 20 security providers, alongside Nethermind, Areta, and Chainlink Labs.

Ethereum-based projects of all sizes will be able to access the subsidy. The EF said the effort is designed to strengthen security across the broader Ethereum ecosystem, following the principles of CROPS: censorship resistance, open source, privacy, and security.

Program details and rationale

Areta Market CEO Findlay Boothroyd said the program is intended to address a security gap for projects that may not be able to defend themselves. He said: “A project that cannot defend itself puts every other guarantee at risk, and we designed this program alongside our partners to help close this gap.”

The EF’s announcement follows a similar security push by the Solana Foundation’s STRIDE program after the $285 million Drift breach. The article frames the move as part of a broader shift among major Layer 1 networks, which are responding to heightened security concerns amid growing institutional interest in the sector.

Crypto security losses and recent breach activity

Crypto hacks have intensified over the past year. In 2025, more than $4 billion was lost, including $2.67 billion from hacks. Scams accounted for $1.37 billion in losses, representing a 64% annual increase from 2024.

Across the same period, the total $4 billion in lost funds represented a 34% increase versus 2024’s $3.01 billion.

For 2026, a PeckShield report cited 20 hacks, with March losses totaling $52 million. That figure reflected a 96% month-on-month (MoM) increase from February’s $26.5 million.

The article also notes that the $285 million Drift breach has driven April losses to jump by nearly four times the March total. It adds that attempts to compromise other platforms, including Cow Swap and even Kraken, have continued, highlighting ongoing security threats across both centralized exchanges and decentralized platforms.

Broader policy and industry response

The article points to additional steps taken by regulators and industry groups. It says the U.S. Treasury extended actionable cybersecurity information regularly shared with traditional financial institutions to cover digital asset firms, with the goal of helping companies detect and prevent early threats.

It also links this approach to Solana Foundation’s STRIDE security program, launched the same week, and notes that the EF’s audit subsidy is now part of the same broader trend. The article concludes that it remains to be seen whether these security efforts will reduce the rising number of crypto hacks.

Final summary

• The Ethereum Foundation launched a $1 million audit subsidy program, following a similar move by Solana and actions by the U.S. Treasury.
• In March, crypto hacks surged 96%, leading to a $52 million loss, while the $285 million Drift breach has nearly quadrupled April’s losses versus March.