Surely some users are aware that the SEC has pressed charges against Binance[1] this week. I have taken a loot at the document[2] and had a laugh when I saw this particular entry on it:
REPATRIATION
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that on or before 10 days from the date the Court issues this Restraining Order, each Defendant shall repatriate to the United States all fiat currency and crypto assets that are deposited, held, traded, and/or accrued by investors (referred to herein as “customers”) on the Binance.US Platform, including for BAM’s staking-as-a-service program, or otherwise held for the benefit of BAM and Binance.US Platform customers, including, but not limited to, any hardware crypto asset wallets, all private keys in any form (or portions thereof), and any device, hardware, or software holding such private key or portion thereof (hereinafter referred to as “Customer Fiat Assets” or “Customer Crypto Assets” and, collectively, “Customer Assets”)
Granted we already know the dangers of using the wallets provided by CEX's , but I do wonder what would happen if a similar process happens within any company holding the shards? Why can't people realize how enormous is the risk associated with having their funds in someone else's hands? It is even worse when they are paying $9.99 for it...
[1]
https://www.sec.gov/news/press-release/2023-101[2]
https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.4.1.pdf