To store $16M you definitely need to take precautions. Someone could steal your identity or compromise your account. It seems like different vulnerabilities rather than one that only exists for crypto.
While not guaranteed, it's pretty likely that you'll be able to get your $16M back if you lose it to identity theft or a compromised online account. You may have to escalate from customer service to legal action, but there are usually ways to reverse fraudulent transactions in the traditional banking system.
On the other hand there's basically no way for this user to get their bitcoin back.
On the other hand there's basically no way for this user to get their bitcoin back.