Dear @lavanyalakshman,

you have given a very detailed explanation on the given topic. You always do great job in explaining everything. Bankruptcy is a very critical situation that is most of the experienced by the Centralized Exchanges.

After seeing the FTX incident, I learned not to keep huge funds on centralized exchanges and to always keep them on decentralized or hardware wallets.

I also agree with you. When we talk about the security of the funds and the lowest risks then we will always look for the decentralised wallets or exchanges. We can also the cold wallets for extra security and privacy.

I wish success for you in this week of the contest.