To some extent, yes the major exchanges are insured: https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured https://help.coi

To some extent, yes the major exchanges are insured: https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured https://help.coinbase.com/en/coinbase/other-topics/legal-pol... However, most losses in crypto are not happening from custodial exchanges, but dAPPs that get hacked... or phishing targeting folks that have custody of their own private keys.