I'd say it's infinitely more likely that exchanges are simply vulnerable to hacks because of bad security and/or bad protocols. This has been happening forever, and I don't think any hacking has ever been attributed to any government, except maybe North Korea. I'd also like to note that the Bithumb hack barely moved the market at all despite being fairly big news.

Also, governments have shown that they can place bans to throttle growth. That's a much more effective way of dealing with the "problem" if they truly hated it enough to stage very convenient hackings.

But you know, if you say that's your opinion, then I completely respect it. All of this is conjecture at the end of the day.