Quote from: AmoreJaz on July 03, 2022, 10:26:02 PM

any platform or network can't be trusted as they are vulnerable to either internal attacks or outside attacks. the security depends on how the team will continue to update their security protocols as hacking softwares are getting sophisticated everyday. just like any new network technology, defi can't avoid these attacks. hence, customers should always be cautious in storing their funds or managing their funds via defi platforms.

Exactly. Nothing is 100% secure in this world. There will always be room for failure. It'll be up to developers and security researchers to constantly update software algorithms in order to stay one step ahead of the latest threats. "De-Fi" platforms are often open source, so it's easy to identify bugs and/or flaws in the system. Some platforms are more secure than others due to rigorous testing by developers, but none of them are immune from external attacks.

You'd have to keep in mind that using "De-Fi" platforms is entirely your responsibility. That's because of the way they're designed (no middleman, only you control your crypto funds with a private key or seed). They're not like banks which are regulated and monitored by the government. Users of "De-Fi" platforms must first do their own research before making any deposit. If you want to play it safe, just spread your investment across multiple "De-Fi" platforms in order to minimize risks of loss. I'd trust "De-Fi" more than banks, simply because it gives me power/freedom to do anything I want with my money. But not everyone will find "De-Fi" attractive. Who knows what the future will hold for this emerging industry? Just my opinion