What are the cons of CEX?

Are there any drawbacks to using centralized exchanges, or CEXs, for cryptocurrency trading? For instance, do they pose any risks to user funds, or are there any limitations in terms of the range of cryptocurrencies they support? Additionally, are there any concerns regarding their level of transparency and regulation, or could their centralized nature potentially lead to issues with scalability and speed? Understanding these potential cons can help traders make more informed decisions when selecting a cryptocurrency exchange.