Crypto exchange wallets offer basic protections against theft, including 2FA and wallet address whitelisting. But most crypto exchange hacks target exchange hot wallets, and many crypto exchanges don’t offer insurance for users’ hot wallets. Ideally, to further protect your Bitcoin or other cryptocurrency, it’s a good idea to transfer your crypto off the exchange into your own digital wallet with a 12-word recovery phrase. For further protection, consider moving your crypto completely offline into cold storage. This is the strongest form of protection against theft.