Is the arbitrum network safe?

Is the Arbitrum network safe? This is a question that many individuals and businesses are asking as they consider adopting this innovative blockchain solution. Arbitrum prides itself on providing scalability and efficiency to decentralized finance applications, but safety remains a paramount concern. Can we trust its smart contracts to execute securely without vulnerabilities? How robust are its security measures against potential hacks or attacks? And what happens if there's a security breach - how quickly can the network respond and mitigate the damage? These are just some of the questions that need to be answered before we can confidently declare the Arbitrum network as safe.