Yeah the total losses aren't near as bad as something like FTX but in some ways this is definitely worse morale-wise. When people lose money on an exchange going under we can feel bad but say "you should have known better than to keep your money on an exchange" but these people were doing what they were told was right. These were their offline keys. We look like fools and all the things we have said look retarded. But hopefully it's like a plane crash and the errors made extensively studied by the industry so self-custody becomes much stronger in the end.