Bitcoin Forum

Not that I have trust issues or I doubt the sincerity of exchanges but it's not too much to think otherwise that is it possible that these exchanges are staging the siege?

An exchange is like a bank. Unless you build iron strong security, backups and all sorts of mitigations should a break occurs, you will go down. Mt.Gox went down in history for such thing, and there is been more and more of the same.

Do you trust your exchange? You shouldn't.

Actually the same applies to any online wallet.

Do you think some dubious person staged an attack to his own service? I wouldn't be surprised of that either. "I got hacked" declare bankruptcy, and years later the guy is living a rich life somewhere...

I don't understand in full how exchanges work however I believe there is a solution for mitigating such security issues.

One way, as my colleague above mentioned is by taking appropriate measures of security (take Binance as an example)

Second, why are these 'decentralized' exchanges called 'decentralized' when they are so centralized? For example, why storing
user's cryptocurrencies when you should let them interact with their own wallet?
I don't have a full, clear picture but I believe there are multiple ways to mitigate these risks. One thing for sure, these exchanges
don't look like they are interested in avoiding such conditions to happen.
Here me and the entire community start being suspicious whether these attacks are staged

The sector is going more professional each time.... so it's "normal"