The article explores the major security risks and incidents in Filecoin's history, focusing on smart contract vulnerabilities, the STFIL incident, and centralization risks. It addresses challenges such as security breaches, regulatory hurdles, and market volatility, relevant for developers, investors, and participants in the Filecoin ecosystem. The structure delves into past security incidents, evaluates their impact, and outlines regulatory issues. Optimized for readability, the article underscores critical insights on maintaining network integrity and user trust amidst evolving risks. Key terms include Filecoin, security, smart contracts, and centralization.