Sharing some harsh truths, but I genuinely hope the industry can improve. Bitget was hacked and lost about $350 million. Withdrawals are currently suspended. My take is that once the cause is identified and the vulnerabilities are fixed, this incident might be resolved smoothly. But just because they can afford the loss doesn’t mean the issue isn’t serious. The fact that an exchange’s wallet can be hacked already highlights the severity of the problem. From Bybit before to Bitget now, the losses have been within the exchanges’ tolerable range. But what if the losses were beyond what they could handle? Wouldn’t the users ultimately be the ones to suffer? I’m particularly sensitive to withdrawal suspensions. From October 16 to November 26, 2020, OKX (then called OKEx) had withdrawals frozen for a full 41 days. About one-third of my funds were stuck there, essentially turning into Monopoly money. The platform’s explanation at the time was that the private key holder was cooperating with an investigation and couldn’t authorize transactions. If that person had never returned, how long would users have had to wait? What users truly need is an exchange with 100% guaranteed security. They need an exchange where, no matter what happens to the owner, founder, CEO, or key personnel managing wallet assets, the exchange’s normal operations remain unaffected.