I wrote this in my notes app when I became aware of ledger library exploit. All this writing was spontaneous, and you should definitely heed it.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
If a large amount of assets are stored on a platform where there is no control over the keys, it certainly increases the risk of hacking. Even if the keys have their own regulation, market volatility can cause significant fluctuations in the asset's value. Diversification of investments can be a good and safe strategy to reduce risk and increase potential returns. Spreading money across different types of investments such as stocks, bonds, real estate and other assets can reduce the impact of a downturn in any sector. This can help protect savings from significant losses and create a more stable long-term financial plan. However, care must be taken to conserve resources.