Recently, multi-chain comprehensive trading tool platforms have encountered incidents of asset theft, prompting users to reflect deeply on the risks associated with custodial accounts. The platform employs an asset custody method similar to that of a Centralized Exchange, lacking security management, which has led to a significant amount of user assets being drained. Compared to self-custody accounts, custodial accounts have lower security. The incident serves as a reminder for users to weigh security against convenience, remain vigilant, and learn anti-fraud knowledge to ensure asset security.

Liquidity Game: Technical Innovation and Power Restructuring of DEX
Introduction: The underlying logic of liquidity games
In the financial market, retail investors are often seen as the "buying backers" when institutional investors exit liquidity. When institutions sell off on a large scale, retail investors often passively take on assets that are declining in price. This asymmetry is further amplified in the cryptocurrency space, where the market-making mechanism of centralized exchanges and dark pool trading exacerbate information disparities. However, with the evolution of decentralized exchanges, platforms represented by new types of order book DEXs are reconstructing the distribution of liquidity power through innovative mechanisms. This article will analyze how excellent DEXs achieve physical isolation of liquidity between retail and institutional investors from the perspectives of technical architecture, incentive mechanisms, and governance models.
Liquidity Hierarchy: From Passive Burden to Power Restructuring
The liquidity dilemma of traditional DEXs
In the early automated market maker models, there was a significant reverse in the liquidity provision behavior of retail investors.

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