Decentralized cryptocurrency exchanges, often known as DEXs, are popular with crypto traders for the level of anonymity they provide. They don’t worry about the hassles of personal identification and verification. You simply connect your wallet and start trading away, while always retaining full control of your funds. 
However, while this anonymity is prized by many, it is a double-edged sword, with serious security implications. Unlike CEXs, which operate with regulatory oversight and offer some protections for their users, DEXs generally offer no such thing. 
This is a concern because DEXs are not immune from high-profile attacks. In the first quarter of 2024, more than $336 million was stolen from decentralized finance platforms, highlighting the need for traders to exercise the utmost caution. And it’s not just hacking that they need to be mindful of, for DEXs are often targeted by maximal extractable value bots, which seek to make money by manipulating transactions at the e

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