The same thing can be done decentrally, and legitimately.
Try it, it would be interesting to see how you can do it for 10 cents and without linking addresses in the blockchain. It's impossible to make 11 transactions for 10 cents on the DEX, I can bet anything, despite the fact that I already know how it will end. This is possible only on CEX, all DEXs on smart contracts work according to the same principle 1 exchange = 1 transaction, while the centralized exchange makes exchanges without the participation of the blockchain, which is why they make such cheap swaps.