Exchanges are consistently being attacked by hackers, due to the the fact that they have high value and the security is vulnerable, other reasons are given below;

1) Consolidated trading platforms
Many trading platforms keep users fund in centralized wallets connected to the Internet. At any point in time hackers can break these defence system and steal funds in crypto.

2) Poor Security initiatives
Exchanges have been found wanting in other to reduce cost or increase speed, they tend to cut corners like having fragile user authentication, poor internal controls and vulnerable APIs or archaic software.

3) Enticing for Criminals
Transactions using crypto are worldwide with no borders, swift cause they are settled in short time and they have masked identity, in other words difficult to trace. Makes them constant target for cybercrimes.

4) Threats from within
Workers or people with inner knowledge may sometimes sell vital information, steal funds e t.c.

5) Lack of Rules and poor monitoring
Many exchange platforms lack proper rules to guide their operations and also monitoring is not done well enough so as to punish defaulters who breaks rules and guidelines.


** Prevention Tips for Users**
Users should always try to make use of exchanges with strong security and insurance and also two-factor authentication password should be enabled and I also encourage withdrawal of funds to personal wallets when not used for trading.