How safe is DeFi lending?

I'm curious to understand the safety of DeFi lending. With the rise of decentralized finance, many investors are looking to lend and borrow funds in a peer-to-peer manner. However, there's a lot of uncertainty surrounding the security of these transactions. Could you elaborate on the potential risks and safeguards in place for DeFi lending? Are smart contracts and blockchain technology truly secure enough to protect user funds?