Has the recent Binance hacking incident exposed the implementation of poor safety majors by cryptocurrency exchanges?

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Greetings Steemians!

Source

Binance, one of the most popular and the biggest crytocurrency exchange has confirmed that a huge data breach had been done by hackers on Binance exchange in which they have stolen about 7000 Bitocoins which is roughly worth $40 millions!

Crytocurrency exchanges are always vulnerable to hacking. It seems that it is not safe to keep our precious wealth with them.
What do you think about the safety of money in crypto exchanges? Has the recent Binance hacking incident exposed the implementation of poor safety majors by cryptocurrency exchanges?

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• Yes.

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• No.

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• Security of money in cryto exchanges is miserable. Hence, these exchanges are not reliable at all.

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• These exchanges are safe but hackers are way ahead of them.

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• I think such a hacking incidents are just pretences made by the exchanges which are involved in fraud.

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• I have no idea.

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• Exchanges are safe. In fact, they are safer than traditional banks.

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• Other (please elaborate).

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