We can't protect people's crypto holdings from themselves.

There's always headlines of people losing their crypto to exchanges shutting down via fraudulent behaviour or defi '' hacks '' and exploits. But there's one thing nobody seems to talk about often enough and that's personal responsibility. There's a subset of crypto investors that have healthy functional brains and they could work in any profession that simply enter this space irresponsibly and inevitably they end up losing large sums ( in some cases their life savings ).

Recently there was a retired security guard that lost the equivalent of over 150k USD to a fake crypto exchange because he clicked on a Google ad. Then there was the fellow during the 2021 bullrun that lost 10 Btc because he fell for one of those Elon Musk swap scams. These are two people that by themselves already lost close to a million dollars to crypto fraud that could easily have been prevented.

The point here is, there are thousands such stories of people that didn't get their crypto hacked by some nefarious hacker group or held hostage or anything, they simply gave it away. Of course they didn't deserve it but no matter how much regulations or strict policies you bring into the space, that subset of crypto investor will always exist, just a reminder.