The only thing is that in the case of closed source you need to trust a central group while open source means trusting a decentralized group of developers.
As for security, it is relative, not all closed source software is insecure, we have software that has been downloaded millions of times and it is more secure than open source software that only a few people have reviewed.
In short, it depends on who reviewed the code, their number and experience, otherwise you are forced to trust the developer.
In cryptocurrency, security advice is going with open source is better than close source but it is very important to warn people that they can not automatically and blindly assume that open source means good, quality and secure.
With open source code, community developers can review, reproduce these codes but each person is responsible for safety of his fund so don't trust community reviews completely and act carelessly with open source things.
Community might miss something dangerous and you will be trapped if you are careless.