Cryptocurrency hacks have surpassed $1.4 billion in 2024, with centralised exchanges becoming the primary targets for these exploits. A report by cybersecurity firm Cyvers highlighted a 900% increase in losses on centralised exchanges year-over-year. This trend marks a shift from previous years where decentralised finance (DeFi) protocols were more frequently targeted. The second quarter of 2024 alone saw over $600 million in crypto losses, doubling the figures from the same period in 2023. This surge is attributed to the concentration of assets on centralised platforms and potentially lax security measures in some exchanges.Amid these security concerns, industry leaders like MetaMask, Polygon, and StarkNet have announced new infrastructure developments aimed at enhancing mainstream adoption of Web3 technologies. For instance, MetaMask has streamlined its onboarding process to make it easier for users to engage with Web3, while ConsenSys has acquired Wallet Guard to bolster MetaMask's security features​.