The cryptocurrency sector is facing a surge in thefts, highlighted by a recent $74 million heist involving UPCX, which was exploited through a smart contract hack. This incident is part of a broader trend, as reported by CertiK, indicating a record increase in crypto thefts. In response to these security challenges, Bybit has announced enhancements to its asset security measures following a staggering $1.45 billion in losses attributed to various hacks. Additionally, Bybit is collaborating with Zodia Custody to bolster security for its institutional clients, aiming to protect against future breaches.