Full tilt wasn't the only one just the biggest. I lost money on another regulated site. Again there have been many regulated sites over the years that closed without paying the players and the only thing the regulators did was shrug their shoulders.
That's because they aren't even really regulators. They're just a barely plausible legal fig leaf to make what would otherwise be illegal pass legal muster enough not to get the people running the site arrested. Sort of like the bullshit "Kahnawake Gaming Commission" that sat with its thumbs up its ass doing nothing while Absolute/UB ran a blatant scam for years.