Despite a slight decline in the number of hacks, crypto theft surged to over $163 million in August, according to blockchain security firm PeckShield. The significant increase is attributed to hackers targeting high-value centralized exchanges and individuals with substantial holdings. A prominent example involved a Bitcoiner losing $91 million after falling victim to a sophisticated social engineering attack. Another incident saw the Turkish crypto exchange Btcturk lose almost $50 million in a hot wallet breach, following their previous hacking attempt last year. Although the number of hacks is decreasing overall, experts warn that rising crypto prices are driving this trend. This trend is compounded by scams such as ‘try my game’ where attackers exploit trust rather than code to drain wallets.