Recent reports highlight escalating security threats in the cryptocurrency space, including a $73 million exploit of Phemex's hot wallet and a new malware dubbed 'SparkCat' found in application development kits on both Google Play and Apple App Store. The SparkCat malware is capable of using optical character recognition (OCR) technology to scan images on infected devices, potentially compromising crypto wallet mnemonics. Kaspersky Labs has identified over 242,000 devices that may be affected by this malware. Additionally, users of Phantom and Trust Wallet browsers are being warned against accessing adult sites, as an exploit has been reported that drains wallets when such sites are visited. The total losses from hacks and exploits in January 2025 alone exceeded $80 million, with three attacks surpassing $1 million. As the decentralized finance (DeFi) sector sees total value locked (TVL) returning to $100 billion, the need for robust security measures has never been more critical.