What a kind of exchange they are why they don't use hardware wallet to keep their funds safe? I really doubt this is an inside job it is impossible to get hacked.
Well, either it's an inside job or they're a really crappy exchange. It's no use throwing around accusations right now because that doesn't matter in the end if there's no proper evidence, let's hope the police find the truth.
They might have a cold wallet but somehow they don't store the private key securely, just like what many articles suggested. So it doesn't matter if they have hardware wallet or not, if the hacker stole the seed and backup then it's pretty much game over. But yeah, it's hard to believe. #Exitscam is trending now btw.