>This will keep happening, as it already has a few times over. Unless they are backed by real solid insurance, cryptocoins and their associated exchanges are a

>This will keep happening, as it already has a few times over. Unless they are backed by real solid insurance, cryptocoins and their associated exchanges are a serious gamble, and nearly always a scam if they aren't backed by some big money (banks/insurance/a well-known billionaire, etc) This will keep happening as long as crypto exchanges aren't treated like banks and run like banks, IE regulated, with requirements for standard accounting practices, requirements for funds on hand, transparency requirements, and everything else that goes with being a regulated financial entity. In particular, there need to be requirements for a two man rule with oversight from a licensed accountant for the money. Too many of the "fallen" crypto exchanges were just tiny companies controlled by one person who turned out not to have the morals of a saint. Millions of dollars is too much temptation for most people to handle, and without rules and regulation people have a weak moment sooner or later and they're lost.