This has nothing to do with cryptocurrency. It's just an exchange that gambled away customer deposits and then was liquidated. They're banks. We've reinvented banks with all of the drawbacks and none of the benefits.
This isn't the way cryptocurrency was meant to be used. We were meant to hold our money in our own wallets, not leave it in some centralized exchange so it can "efficiently" allocate the funds. People keep using exchanges as if they were banks and they keep getting burned in ways only banks are capable of.
This isn't the way cryptocurrency was meant to be used. We were meant to hold our money in our own wallets, not leave it in some centralized exchange so it can "efficiently" allocate the funds. People keep using exchanges as if they were banks and they keep getting burned in ways only banks are capable of.