Are centralized exchanges risky?

[udana123]

According to my view, most of the centralized exchanges are governed and controlled by a separate team and there would be some frauds or mistakes when the transactions happen. Simply that the transaction is happened through a 3rd party and I believe it is not that secure. What do you think about that? Do you encourage DEXs(Decentralized Exchanges) or CEXs (Centralized Exchanges)?