With hacks occurring more frequently these days, I would strongly emphasize the importance of security. Whether it's a decentralized exchange (DEX) or a centralized exchange (CEX), no one is immune. First, we witnessed the Mixin incident, and now it's Galxe. It's crucial for everyone to assess the security measures of any platform before entrusting their funds. We all bear the responsibility to conduct thorough research before investing our hard-earned money
I think crypto is all about scams. Most of the project owners are doing rugpull or exploits them self. Because they need to stole the user's funds. So that's why they are doing this. When it comes to the galaxy and balancer, same hacker did this. Because he is always doing front end hack. So he need the entire code base. There may be possibility inside of group member leaked entire code base and DNS information.
No guarantee if the truster project will not also fool its investors. I do agree with your statement. It's caused by all of funds are owned by them. The team behind the project was the party who was holding the funds raised from the investors and buyers.
If they did something fishy behind the scena and the investors will not able to know it caused by it's hard to detect it. It's pretty much the same like SBF and alameda which were using all of investors funds to by so many mansions.
The investors were know the fact after binance was just revealing the fact about FTX exchange site. There's no safe place in crypto. It's all about how we can maintain the security for our money that already swapped into the crypto form.
Im feeling so bad with crypto these days. It feels like that if we are rarely seeing a platform that regularly improving its security.
I have experienced many hacked cases. Crypto becomes even terrible with so many scammers who acted like developers.