You might be wondering, if centralized exchanges are such a risk, why do people use them at all? Besides the aforementioned convenience, DeFi is also unregulated, meaning there is a larger security risk than within centralized financial platforms. In 2021 alone, there was over $12 billion lost in security attacks targeting DeFi exchanges. As people have more control over their finances, they’re also put at more risk, as phishing emails and hackers will attempt to find the details that unlock ...
