Records has it that almost 1 billion dollars has been stolen via security exploitation with that of HTX and the decentralized cross-chain protocol Mixin Network as the most recent. Tho, the figure may not be alarming compared to the previous year data that saw almost 4 billion dollars stolen.
Few of these incidence are never recovered and for the few that are either recovered or returned by the hackers are associated with a decent amount of white hat payment which imho encourage the proliferation of hacking activities which will definitely slow down adoption and hemper confidence on the safety of the industry. HTX just announced the paying 250 ETH as white hat bonus for the return of the 5k ETH recently drained from their platform
There are few exchanges that have successfully recorded zero incidence of security exploit since inception particularly Bitget and this begs the question 'what are they doing right that others aren't doing and why is it difficult to collaborate with those secured platforms to collectively build and have secured platforms? ' cos I want to believe if these platforms are collectively secured, we could experience rapid growth that the traditional financial institution could be threatened.