Why you shouldn't hold a lot of crypto on exchanges "Not your keys, not your coins" Holding crypto on an exchange means you are giving up control of your assets to a third party. In case of problems with the exchange (bankruptcy, legal issues, etc.), you may lose access to your funds.
Exchanges attract hackers due to their large volumes of funds, making them a potential target for hacking. In the history of cryptocurrencies, there have been cases of major hacks such as Mt. Gox, Coincheck, and others, where users lost significant amounts.
An exchange may freeze your account for a variety of reasons, including suspected illegal activity or compliance issues.
Exchanges are subject to technical failures such as software bugs, server problems, etc., which may result in loss of access to funds or other problems.
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