In the first three quarters of 2023, cryptocurrency hack losses have exceeded $2.1 billion, surpassing the entire amount stolen in 2022. This alarming trend, reported by BeInCrypto citing data from Cyvers, highlights the increased vulnerability of centralized cryptocurrency exchanges. This year's surge in attacks has targeted centralized platforms, with notable hacks including the DMM Bitcoin hack ($305 million stolen) and the WazirX hack ($235 million stolen). These incidents underscore the urgent need for enhanced security measures to safeguard the growing cryptocurrency industry.