Clipper Exchange, known as Clipper DEX, has reported a significant security breach due to an API vulnerability, resulting in a loss of over $500,000 and leaving an estimated $6.5 million at risk. Users have been advised to withdraw their funds immediately to mitigate potential losses. This incident follows a recent hack of another crypto exchange, XT.com, which suffered a loss of $1.7 million on November 28, 2024. In a related development, Clipper DEX later clarified that a reported $450,000 hack was not caused by a private key leak, although the platform's security remains a concern. The situation has prompted discussions about the overall security of decentralized exchanges, with some platforms taking steps to enhance user protection in light of these vulnerabilities.