They still do, it's just the thieves have the backing of the court system.

https://ij.org/report/seize-first-question-later/

Of course it's still a thing, both regular robberies and digital ones. And people lose savings to online thieves and cheats who take control of their accounts, or manage to perform transfers on their behalf.

At least when you do, you’re fdic insured up to 100k typically