Binance is the most popular crypto exchange in the world now and under regular attack by hackers. This is the 2nd time within a month their defenses have proven insufficient...
They need to improve big time, and compensate the customers.
Most exchanges have similarly insecure API token mechanisms that should be improved, but this absolutely isn't just Binance.
Bot trading accounts should never be used to store life-changing funds (especially because occasional bot fuck-ups can wipe you out anyway). And nobody should be allowing API access to third party sites like Coinigy. It's just insecure.
Don't expect compensation. This is why most sites post warnings when you go to generate API keys.
well to Binance's credit at least they are reversing the erroneous trades that caused the incredible pump on VIA, so that's definitely an impressive step in the right direction.
If when the exchange is even partially responsible they can take the higher ground of compensating the customer in a fair way, I can almost guarantee that crypto exchanges will eventually overtake fiat exchanges, so such measures will be in the spirit of further protecting the individual against institutions.
What I like about Binance and their CEO is they have been honorable enough to confirm their prior measures were not wholly effective, and they are taking the steps to further improve their systems.