How secure is a Tier 1 exchange?

Inquiring minds want to know: how secure is a Tier 1 exchange really? With the rising popularity of cryptocurrency and its trading platforms, it's essential to ensure that our investments are safeguarded. Tier 1 exchanges, often touted as the most reliable and robust in the industry, claim to offer unparalleled security measures. But what does that really mean? Are they truly impervious to hacks, scams, or other forms of cyberattacks? And what about their user verification processes? Do they thoroughly scrutinize each user to prevent any malicious activities? These are just some of the questions that investors and traders alike should be asking when considering the security of a Tier 1 exchange. Let's delve deeper and explore the various layers of security these exchanges boast to ensure that our funds remain protected.