Just a theory about what happened to QuadrigaCX, but seems plausible. I wrote about the earlier bug in my book. Quadriga claimed they would make good $14 million in customer losses out of trading profits. https://t.co/q6tjNsuMSt
If you are holding your coins on an exchange, then you should always be concerned, because you don't control them and they could be lost at any time. Get a hardware wallet and withdraw them to an address you control.
I understand the general concern off holding coins on an exchange. I mean specifically to this current issue. Either way, I've begun moving my coins to an android wallet until I understand what's going on better with this situation. I don't have time to read through everything and figure it out and I'd rather be safe than sorry right now.
In the linked thread people are seemingly withdrawing with no issues, so they seem solvent for now. This specific issue is exactly why you don't hold coins on an exchange unless you're trading them right away.
If your Android device is connected to the internet, you may not be any better there. Get a proper hardware wallet or a dedicated offline machine to hold your keys, and back them up to multiple safe offline locations. Never expose your keys to the internet.
That's because they've agreed to take all of the losses themselves and not force people using their service to pay for it. They've made public statements admitting to what the issue was too. So there basically is nothing to see here for anyone using the service.
If anything I think this is an extremely mature and respectable way to handle an issue like this, and it'll likely just cause people to trust them.