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.
Once it's centralized nothing is safe but we can't stop using it, if you make profit from trading how will you profit if you don't use centralized exchange. Once invested means we take risks, so no matter how many exchanges fail, I believe we will never eliminate our reliance on them.