Believe it or not these exchange hacks are for the betterment for Bitcoin and the community.
Like others in this thread have mentioned, this weeds out the bad actors/exchange operators, and leaves the more reputable and trustworthy ones.
Although the BTER, Cavirtex, Mycoin etc hacks are bad and left many without recourse, the overall sentiment was unphased and didn't crash the BTC price at all.
BitStamp which had a really bad hack last month proved that it learned from the MtGox debacle, and insured that no customers would lose their stash, so we're starting to learn from the mistakes of the past.
Coinbase and Gemini, although regulated, should continue this trend of secure and trustworthy exchanges at the expense of some centralization and overseeing. I personally think it's fine, because the currency itself is still decentralized, it's just the exchange itself and operators behind it are regulated.
probably you are basing on the third party of view! We are learning a hard lesson with the loss of our deposits in these crappy centralized exchanges!
Yes, if you're leaving your wallet stash in centralized untrustworthy Mickey Mouse amateur hour exchanges, then yes theft or "wallet hacks" as they call them now, are very possible.
With Gemini's impending launch however, all wallet reserves will be air gapped, offline, and FDIC insured by a reputable bank, so it virtually eliminates the possibility of loss. Although this wasn't the original vision of Bitcoin exchanges, even Wild West towns need a Sheriff to oversee things...
