XF 1.3 Image proxy for storing 404 images?

Hi there,

Could Image Proxy be used for storing images that's being deleted from source?

We want to update them if they are available (not 404), so we are using "update every 1 day", as some people using dynamic bars that's upgrading every day.
But we don't want to lose images because they going 404 on the source.

Any practice?