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Why weren't they insured against theft? Why did people deposit money with an exchange that is not insured against theft? Theft is a fact of life. You cannot hav

by Joeri 11y ago

Why weren't they insured against theft? Why did people deposit money with an exchange that is not insured against theft? Theft is a fact of life. You cannot have a perfectly secure bank, and you cannot have a perfectly secure bitcoin exchange. If you don't want to be hurt by theft, get insurance.

fixermark 11y ago
It's okay; the FDIC will.... Oh. Whoops. ;)
perlgeek 11y ago
> Why weren't they insured against theft? Because the insurance would have been way too expensive, or would have demanded way better operational security and auditing. And because they were able to operate without one.