But that's the thing... if the bank gets hacked, there are laws, regulations, and protections in place to: a) try to prevent that happening in the first place

But that's the thing... if the bank gets hacked, there are laws, regulations, and protections in place to: a) try to prevent that happening in the first place b) at least give you a strong chance of reclaiming your money While with crypto, as I understand it, you are SOL.