I'm not sure whether I'm making the right assumption or not but it seems like there is a critical shortage of people in the IT/Bitcoin world with up to scratch security knowledge and or experience. Either that or those in charge of these exchanges/companies have their priorities screwed up or have no idea what they are doing.
I would have thought that all companies would have been out there recruiting the best security experts money could buy especially so when dealing with such large amounts of money/coins also in the light of all the recent big name hacks we've seen over the past year or two. If they were then clearly those they recruited do not have the necessary knowledge and or skills to implement proper security structures and or the hackers is just miles ahead of the industry, not sure which is which.
Can a person still place your trust in any form of online company/business where security is a necessity? I'm not that sure, seems like its just a matter of time with all of them.
Its for this very reason that I run for the hills when I see a site advertising 'bank level security', 'industry standard security' etc...
I'm seeing this from another side, competition is driving companies to make mediocre hires. If you look at how the market is shaping for exchanges, you'll see that the ones willing to run things legitimately, as a company and comply with the law, (i.e. are not a startup by a hobbyist) have to face competition that leads to small or no profits when starting up. They facilitate transactions worth millions but the % of that that they get as profit is negligible.
IMO, it's mostly a case of lack of profits due to competition rather than a lack of IT professionals understanding bitcoin. If the pay was good we would have been seeing more prominent security experts trying to understand bitcoin to enter the space.
