I don't hold a lot of crypto or anything but one of the most repeated sentiments in communities, guides etc is "don't store money in an exchange". People do it,

I don't hold a lot of crypto or anything but one of the most repeated sentiments in communities, guides etc is "don't store money in an exchange". People do it, just like people sometimes buy drugs on DNMs without using PGP encryption, and /usually/ it doesn't end badly for them, but the worst-case scenario (exchange hacked or exit scams and arrest respectively) is pretty bad.