New DeFi Education Fund coalition seeks to harden crypto against cybersecurity threats

The DeFi Education Fund is launching a cryptocurrency cybersecurity coalition as part of a wider effort to bolster its defense against bad actors across the blockchain. 

On Tuesday, the DeFi Education Fund alongside Security Alliance Asymmetric Research (SEAL) debuted the Open Protocol Security Coalition, or OPSeC, which it says will hold educational events geared toward lawmakers, as crypto bills make their way through Washington. 

Many best practices and resources exist, but the new coalition will strengthen those, said Amanda Tuminelli, CEO and Chief Legal Officer of DeFi Education Fund, in a statement.

"OPSeC is about amplifying access to these resources and bringing together industry experts so that we can ensure that security remains at the forefront of onchain software development and that teams of every size have access to excellent cybersecurity tools," Tuminelli said."The DEF team is honored to play a role in amplifying the amazing cybersecurity expertise that already exists, and we look forward to introducing policymakers to OPSeC team members and resources."

Concerns around cybersecurity and illicit finance have come into the spotlight as lawmakers in Washington try to pass into law a bill that would regulate the cryptocurrency industry broadly while addressing illicit finance. Lawmakers have voiced concerns that parts of the bill don't go far enough to crack down on financial crime, while others in the crypto sector say legislation needs to be targeted so that broad standards are not placed on software developers or decentralized infrastructure.

OPSeC says its first goal is to create a free "central hub" that will include resources and best practices.

"The security knowledge and tools this industry needs already exist, but what’s been missing is a clear path to get that expertise in front of policymakers," said samczsun, founder & CEO of SEAL, in the statement. "OPSeC gives SEAL a way to contribute our technical frameworks to a conversation that has historically lacked them. Better-informed policy is good for everyone building in this space."

Organizations that join OPSeC will also sign a pledge to commit "cybersecurity resources to the coalition effort," in part through tapping team members to share best practices and bringing forth new ideas. Other groups will also make pledges, including investors who will commit to "ensuring portfolio companies have a baseline of non-negotiable, excellent security practices," the organization said in its statement.