Changpeng Zhao (CZ) elaborated that while hack data is more readily available and often reported for centralized exchanges (CEXs), incidents like hacks and lost coins in self-custody are frequently unreported, making their data harder to track. He also noted that statistics from defunct exchanges can skew the overall safety perception of CEXs, adding that Binance and some other exchanges have historically covered users for CEX-side hacks. CZ concluded that different approaches carry distinct risk profiles and a balanced strategy is likely optimal.