Re: Nowhere is safe?

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

Nothing in life is safe, but grouping all CEXes as equally unsafe is ignorant, just like all DEXes. There are most likely going to be more hacks in the future in both of them, but maybe focus on the exchanges that have been legit, old, never hacked or at least compensated losses.

There are more trustworthy Dexes out then random hacked ones you posted just like there are more Trustworthy CEXes. The one you posted on your edit (Bitget), is not one of them. Not a change i would ever recommend that CEX to anyone.

Perhaps, the situation is already been accepted and seems we don't have another option but to trust and use legit exchanges who could carry responsibility for the safety of the client's funds. Now that most exchanges have gotten into that vulnerability, the more we have to be smart about where to keep our funds. In fact, even our personal wallet is not safe. And this is to tell everyone especially newcomers to just think several times before entering crypto and must know how to keep their funds safely (at least).

That's all we have for now that's why we need to choose those reputable exchange and rely on the words they give that they will not compromised the funds of their consumers and provide better service among any other exchange who exist in the market. To many times we see a lot of big or small exchange got compromised that's why its better that we shouldn't put any excess funds and always store the huge holdings in wallets that we hold the keys so that no big fall down if suddenly we will see a major collapsed and can easily move on. For so many this issue happen I really believe that to many people learn from other or their mistakes made since its hard to file a complaint or get a refund if crappy things happen on the exchange we believe to be a good platform.

You seem to understand what I'm trying to put out there. We are not even sure if our personal wallet is safe either. Lol, things been crazy. Nothing is safe but how these exchanges responds to security matters too. Now, the one on my post has a user Protection Fund just like Binance SAFU. At least we know they are ready to compensate their users no matter what. Still yet, they have also levelled up their security

Isn't what they say that matters but the action they put in!