Every day it seems a new story emerges about an exchange going bankrupt. Has been a recurring pattern since the Mt. Gox collapse. Why, with so many examples of failures, do people continue to keep their money on these? You don't own crypto if you have "coins" on an exchange, you have an IOU from a business that may or may not even be solvent.
People never learn because they think that after it has happened, it never happens again or it doesn't repeat itself. They refuse to learn from people's experience.
No matter how reputable an exchange seems, like they can never go bankrupt or be victims of hack, people who have not learnt this lesson should learn it never to keep their coins in an exchange when there are cold storages and safer places for them.