I agree, but think it's even worse. The various exchanges are immature, fly-by-the-seat-of-the-pants tech companies sitting on mounds of other people's cash. That makes them tempting targets.

Worse, they are trying to protect that cash from everyone on the internet. If you want to steal actual cash from a bank, you need to walk into it and threaten a teller, and you're probably going to jail. If someone hacks into BofA and drains a bunch of accounts, the losses will be covered by the bank or the FDIC.

If a bunch of people put cash in one place, then trust an immature company with no insurance to keep it safe, this will happen again and again. It's like a data breach, except easier money.