Is this another centralized service that users are willingly trusting their private keys to?
Not saying it's right that they lose their stash, but I mean COME ON MAN!!!
If you leave your keys in the hands of the 3rd party centralized entity with no laws or recourse in place, you kinda deserve whatever happens...
I have seen the same warning since GOX and it is still true to this day, if you don't have the keys you don't have the coins.
Bitcoin gives you the possibility to be your own bank, don't get greedy and trust others with all your money for an interest you know is from a ponzi.
It's kinda why I don't mind the Bitlicense, regulation, and AML/KYC coming to Bitcoin exchanges even though some of it goes against the tenets of what Bitcoin stands for.
At this point, scammers, hackers, ponzis, and bad actors/players continue to tarnish whatever good will and potential Bitcoin provides. Not that there isn't in Fiat based economies, but could you imagine if the NYSE or NASDAQ ever got hacked. There'd be blood on the streets, and alot of people would be unemployed. I mean even after the Target or JP Morgan Chase hacks, there's recourse, and all funds are pretty much insured at least. No such recourse with Bitcoin exchanges or wallet services yet...