[jonathanstrange]

It is surely seems crazy to me as long as these exchanges can withhold your money - which brings me to the question how this practice could possibly by legal. Is it in the contract of these pseudo-banking services that they can withhold their clients' money whenever and as long as they wish? Why would anybody agree to such a contract?

[spicybright]

Because people aren't reading the fine print. They just assume it's a better bank until this happens.

While this might change in the future, I would guess bitcoin isn't technically money. It's more like a gift card some people will exchange for real money.

But even a gift card has more protection than crypto lol