In Q1 2024, the DeFi sector experienced a staggering surge in losses attributed to private key compromises, totaling $239 million, marking a remarkable increase of approximately 1,171% from the same period in 2023, where losses amounted to $18.8 million. This surge is compounded by the doubling of reported private key-related incidents, with 26 compromises reported in 2024 compared to 11 incidents in 2023.