Both DEX and CEX have their own advantages and disadvantages but in general CEX still prevails because of the services it provides more complete and convenient than DEX. DEX is just the right place for those who love privacy and value security, the rest are traders, simple, easy, like cheap fees… and don't value privacy, CEX is the one place for you. In terms of liquidity, CEX is obviously a lot bigger than DEX, so if judged fairly, CEX is dominating most of the market and 90% of investors are using CEX instead of DEX.
Both CEX and DEX has good and bad side you are right on that but CEX which centralized exchange has more disadvantages than the DEX decentralized exchange.
And in line with what the OP meant which was about how secured it is then it has to be Decentralized exchange, it's more secured than the centralized exchange because it does not require KYC (know your customer) a way centralized exchange usesntheir customers details for verification, this can lead to your identity being exposed.
Is CEX more disadvantageous than DEX? I don't think so, if CEX has more downsides, why is everyone rushing to use it? It can be said that almost any investor, trader has at least one account on centralized exchanges and most people will use it for their needs. If judged fairly, DEXs have more downsides and limitations, and that's why people are still not using DEXs widely.
People criticize CEX because it requires KYC, which makes them lose their privacy, other than that I don't see any other reason. The exchange should only be used for exchange and anyone using it to store assets is stupid because that is not its mission.