Sure, but not all exchanges are regulated, which makes their "behind the scenes" that much more invisible and thus harder to sue and prove anything. As an example, just look at the Forex industry (which in my opinion isn't very well regulated at all). Lots of scam brokers out there, and I'm sure you'd find lots of stories with people whose lawsuits went absolutely nowhere. Now, I don't know for certain what crypto exchanges do and do not do, but I'm guessing that due to the lack of regulation, the temptation to utilize that sort of information is pretty big. I also agree with TheQuin on the point that pro traders have a rough idea where the stops might be, and they place their trades accordingly. That's a big factor as well.
And just to clarify, I'm not completely against stops. I do use stops as well but only on more or less liquid markets. They are ok as long as you use them wisely and understand all the risk involved.
I just wanted to point something out about your point on unregulated Forex brokers. The difference here is that a Forex broker might well be taking the other side of your trade rather than placing it with an interbank dealer and therefore stands to gain when you lose. An exchange should be an entirely different type of entity that is simply matching orders of its clients and has no financial interest in whether you make a profit or loss. I know with crypto being mainly unregulated there will always be doubts but it is a different level of corruption if they actively help some clients over others. What Forex brokers do is actually legal believe it or not.