Exchanges are even worse than banks.

They are basically companies/banks without any government support. If they go bankrupt, you are fucked. If they steal from you, you are fucked.

I don't even trust banks in my country. How can you put your life savings in an exchange which is located in somewhere far away from your country and which you don't know anything about?

Now you have to find a good lawyer and i don't think there will be anything left from that 20k$ when everything is over. That's it if you can't solve your problem with the customer support.

Exchanges can randomly seize the suspicious money from the users. Suspicious to who? How? Nobody knows.