Recently, I saw someone staring at large on-chain transfers and unusual activity in exchange hot and cold wallets, then starting to speculate "smart money is coming / about to crash"... My first reaction now is: how exactly did this money cross over? Especially with messages like IBC transfer, which look like a single click away, honestly, you have to trust more than one chain. Are relayers forwarding normally, are the light clients on both sides verifying consensus reliably, what about the finality/rollback risks of the other chain, has the channel configuration been accidentally closed, plus the application layer's own logic (like timeouts, replays, permissions), any link in the chain malfunctioning can trap you halfway. Anyway, after being liquidated once, I’m really afraid of things that look "smooth," I only dare to do small cross-chain tests, preferring to go slow rather than gambling on luck.