Recently I came across an article about the future of decentralized exchanges and how they are going to transform the centralized exchanges. One thing that clearly mentioned is that decentralized exchanges are secure and impossible (kind of) to hack as no central entity is running/controlling them. However, I heard about the security breach of Bancor and waves DEX. So what's the point of decentralized exchanges if they are still being hacked
No one hacks decentralized exchanges. Because money is not stored in the same wallet of the exchange, and they are on the wallets of the bidders. Therefore, it is impossible to hack a decentralized exchange as well as a centralized exchange.