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A certain exchange was hacked, and I won't kick someone when they're down. What I want to say is that over the past five years, most KOLs have been bought off by exchanges. KOLs and exchanges are in cahoots, so the term "cold wallet" is rarely heard, cold wallet security is seldom promoted, and hardly anyone talks about moving funds to personal wallets. The phrase "private key" only appears when hackers steal assets through chain breaches... When everyone believes exchanges are very safe, that is the biggest industry risk. This will inevitably lead to a major setback sooner or later. The mistakes I've made will be repeatedly played out in the industry. Exchanges should be treated like governments—placed in an untrusted position, assumed to be malicious by default, and subject to multiple layers of supervision and checks. But crypto exchanges are all like dictatorial emperors. Here’s a reminder: 1. Keep the vast majority of your coins in personal wallets, preferably hardware wallets, secondly mobile wallets. Regardless of hot or cold, these are safer than keeping them on exchanges. 2. Diversify asset risk by holding coins, stocks, physical gold, etc. The principle is diversification. 3. If you can't do the above two, then spread your assets across three major exchanges. Risk control, in my opinion, has nothing to do with asset size. Risk control is the foundation. If the foundation is not solid, no matter how large your assets are, you will have to pay it back. This is my painful experience 😭