Unfortunately, crypto investors have limited protections against platform failure, fraud, or theft. Some crypto platforms have third-party insurance or funds set up to make investors whole in case of, for example, an exchange hack. But many platforms don't have any external insurance. For those that do, it isn't clear whether that insurance would cover exchange failure. Bank accounts are protected against failure by FDIC insurance. Brokerages have SIPC insurance, which serves a similar function. Right now, there's nothing like this in the crypto world.