It was horrible, I couldn't imagine if I were him who lose a lot money. Against, hacking is someting bad that always (often) happening on bitcoin user and I guess we can't avoid it. I just thinking, what is the safest way to store bitcoin? And what is the right way to exchange them to money fiat.
And also this thing will be made by other people there especially newcomers as a fear. Let say, they have known bitcoin and its promising place for investing because they could get a huge profit from it, but in another side they will be pay attention for security thing which I mean that is the first factor that should be watch out for.
You keep two wallets, one of long term big sums, this is an offline (cold) wallet; essentially a piece of paper with some words written in it by hand (yes really). This is a wallet you can only deposit funds to, not withdraw unless you move it "online" (hot), something which should only be done rarely and with the appropriate security precautions (ie. linux live image booting in a secured pc).
The other wallet, for small day to day sums. Prepare to lose it at any time (ie. stolen phone, forgotten password, etc). You should decide up to what amount you are willing to lose "suddenly", the excess send it to the cold wallet where is safe from "hackers". This wallet can be a hardware wallet for added security, rather than a smartphone or regular pc.
Unlike what some people think, hardware wallets should not be used for long term cold storage. Electronic things can fail, but of course the hardware wallet also gives you seed words for you to write in a piece of paper...
Newcomers need to adapt. Bitcoin is not identical to fiat, it cannot be handled the same way. It is not THAT hard, but its different, and you have to get used to it. This is the responsibility of being your own bank. Sure, you can STILL pay others to handle your money, if you trust in them (as you trust in banks). That's what those online wallets, exchanges, (and surely banks in the future) are for. Think Binance can protect your money better than you? Give it to them. I don't think that is wise tho, but traders get greedy and cannot stand having a large sum safely stored in a cold wallet, which is why so many people lose so much money when an exchange fails. The smart trader would only trade with a part, and keep the other part safe.
But this might be a generational divide, same way smartphones disrupted people's lives, while millennials take them for granted. Fiat money is, after all, a pre-internet era thing, just like old fashioned land line phones, film photography, vinyl record players etc. Give it a couple more decades and you might see fiat money becoming the way of the horse carriage.
