Agree, there is risk for the 5 minutes it takes to transfer the coins out. If you are on boarding from fiat, there is a degree of trust to extend to the exchange. But this is not Bitcoin, it is a centralized exchange. There are other ways to buy and trade coin too. Earning is best.
I knew not to leave coins with MtGox. I knew not to leave them with Cryptsy. This is a lesson I learned from banks.
Can you elaborate how a bad actor, any bad actor, can confiscate, steal, reorder or devalue a UTXO recorded on an immutable blockchain for all eternity?
The reality is most people will not do that as it is a massive PITA. You can observe this right now.
>There are other ways to buy and trade coin too. Earning is best.
That's even worse, the coin can become devalued in between the time you started the work and when you get paid.
>Can you elaborate how a bad actor, any bad actor, can confiscate, steal, reorder or devalue a UTXO recorded on an immutable blockchain for all eternity?
They don't have to do that. They can use any number of other techniques to stop you from transacting. Or they can just lie to you, gain your trust and then scam you into giving up your coins, as seems to be very common these days.
I will not accept that people consider it a PITA. I will teach them, personally if I have to. I have onboarded many.