The cryptocurrency market is characterized by significant fluctuations, both positive and negative. Recently, the well-regarded cryptocurrency exchange FTX experienced a decline, despite being highly valued by its users for over two years. The situation highlights the crucial role that transparency plays in the crypto space. Unexpectedly, it was discovered that FTX had a backdoor through which it was misusing its users' funds. This could have been prevented if users had complete control over their assets from the beginning, rather than relying on a centralized entity. The situation serves as a reminder of the importance of transparency and security of funds in Web3.