I took stock of the exchange hack incidents that have occurred over the years. What has been publicly disclosed is only a portion of them—some incidents have not been fully revealed to the public even to this day.

When you look at the past few years, most CEXs have, to one degree or another, experienced security incidents. The difference may lie in whether they have the ability to withstand the fallout, and whether they can stabilize users’ losses and confidence.

When it comes to CEX security, nobody can guarantee that problems will never happen. What truly matters might be whether, after something goes wrong, the platform has sufficient reserves, the right mechanisms, and the sense of responsibility to handle the situation properly.

After all, for users, security is never just a slogan—it’s whether the platform can hold up when it matters most.