According to Crypto Rover, the cryptocurrency market has been significantly impacted by a series of sophisticated hacks, including the $625 million Ronin Bridge hack and the $100 million attack on Harmony. Attackers are utilizing phishing and contract exploits to siphon funds into unknown wallets, with the recent Bybit hack indicating an increase in the sophistication of their methods. These incidents highlight the escalating risk for traders and the importance of enhanced security measures in cryptocurrency exchanges.