just a note..
majority of exchange hacks of bitcoin history seemed to not actually be hacks.. but internal theft in lieu of retiring out of the business
even FTX guy SBF tried to claim a hack for losses but evidence shows he was shuffling funds about to remove it for personal purchases.
other examples of the past seemed similar mintpal cryptorush, and so many others
An orchestrated internal theft to drain users of all their money or use it as they please.
It all seemed very nefarious, but in the end, all the drama unfolded.
But SBF did file a Motion to Dismiss the Prosecution's Charges.
The three charges excluded from this motion were
1. commodity fraud,
2. conspiracy to commit securities fraud,
3. and conspiracy to commit money laundering.
Already guilty but still denies committing fraud.
Another example is also like the local Turkish Exchange, Thodex, which cannot be accessed because its CEO, Faruk Fatih Ozer, took away around $2 Billion of user money.
In addition to cases of developers running away with user funds, there are also exchanges that are closed because they no longer have benefits if they continue to operate such as locakbitcoin, Nova Exchange, Coinexchange, and many more.
But in the end what about user data that has done KYC, will it be safe?
Because it is clear that even though the exchange is closed they still hold the KYC data of all users and can be sold to get more profit.