>This is because whoever knows the private key to a crypto wallet is the owner of the funds. Even better, funds don't have to exist to show them on a screen. N

>This is because whoever knows the private key to a crypto wallet is the owner of the funds. Even better, funds don't have to exist to show them on a screen. Numerous exchanges collapsed because the stated funds weren't in the exchange in the first place and what the traders actually traded was numbers in a MySQL database when the actual funds they sent to the exchanges were being bet on somewhere else. The sad reality is, for most people in the trade crypto assets are whatever the screen says.