How are your BGB holdings doing and what's your take on this?..
I would never hold a token from a centralized exchange. All it takes is for one unreported hack to wipe out your holdings. If they get hacked, they will short it and dump it before they ever admit to the hack publicly thereby preventing any chance from recovering some value from your tokens. Sell it for something smarter if you are already well in profit.
Well technically for any token or coin, one exploit is enough to destroy them as we seen in the past, unless they go with the road of ETH.
But i get what you mean, because with centralized exchange, so many things are depending on that centralized exchange. Like legality of it for example. Make them pay huge fines and you can be sure that they are paid by liquidating those tokens, which majority holder is most likely the dev team anyway. That would cause exit panic, like liquidity problems in FTX.
While true, it is still not the same. In a DeFi environment a hack can be spotted by anyone and the information spreads like fire. A CEX hack can be hidden and information can be delayed for a some time, that is the problem and there lies the difference. Depending on the circumstances of the hack, by the time that the information reaches you the price may have gone down 50 to 90 percent easily. Now add in freezing and other manipulations and you are ripe for getting 0% back. Like lamb to the
slaughterslaughterhouse.