Quote from: Sayeds56 on November 30, 2022, 06:24:53 PM

Quote from: AakZaki on November 29, 2022, 02:35:27 PM

Quote from: o48o on November 28, 2022, 05:20:51 AM

Neither we should trust DEX smart contracts to store them for too long time. As at least when we trust CEXes, they get sued after messing up, You can't sue a faulty hacked smart contract. And what comes to praising decentralization in general, it almost always has centralized elements. Like wrapped btc that just got depegged supposedly because of Almada Research minted it a lot.

DEX also cannot be fully trusted, because some DEXs are managed by scammers who will easily take our assets. As you said, no one can sue Smart Contracts if they commit fraud and take the assets of the users, they will just disappear. In contrast to CEX which will be demanded by its users directly. The main security is actually in its own use. they must be aware that crypto is very risky, and must be really good at keeping their own assets safe. A personal wallet is a safe place that can be managed alone.

You are absolutely right, CEX or DEx, none of them is free from risk of hacking, either DEX or non-custodial wallets are not 100% secure, so many incidents have been reported in media about hacking of investors' money was stolen by DEFIs as well online wallets were hacked. Big exchanges like Binance and Coinbase have reliable security system as well as funds are protected by insurance cover.

Alert for transactions at dex, if we use metamask then we must be vigilant because bad things can happen, I once lost assets around $ 400 after the transaction in the pancakes, small things at that time because I forgot to lock or delete the account so that it was easy to get back.