Very nice thread VB1001,
I am long been concerned by exchanges, and In my monthly recap I have been telling they are the weakest link on the bitcoin ecosystem.
At a local Bitcoin conference I recently spoke to a “Binance Angel” (sort of binance marketing guy) who told me they were quite explicit on their hack: they disciples the maximum possible information as they think that would help other Exchange.
In my opinion this is only half of the truth as they know there aren’t many exchanges out there with the scale for having a decent security, liquidity  and legal operation the customers and regulators are expecting from exchanges in 2019.
So probably we are going to see a massive push for “Darwinist extinction” of small exchanges, with specs for only 3/4 global players.
This until traditional incumbent decide to enter the space (like Bakkt).
Maybe I have been drifting slightly OT...

Till date I haven't been affected by any of the exchange hacking incident although I have used almost all the exchange that have been hacked at one point in time. The secret is already highlighted in the OP above and sang everyday by the community but my individuals seems to ignore that advice. (Not your key, not your coin). Exchanges should only be used for trading & not for holding your assets.

As for a solution, I don't think there's any currently, the only way to minimize the impact is by having a set aside fund to cover up any damages when it occurs just as Binance did. Also a weekly audit of the exchange to search for flaw which hacker can take advantage of might also help. The thing is, all centralized system (exchanges) are liable to hack & if your decentralized exchange gets hacked then it was not decentralized enough unless it has to do with phishing.

This is a very sensitive issue, it depends on the judgment, solvency of the exchange...

Here is a recent and rare case that can be satisfactory for victims of the scam:

Bitpoint Reveals Amounts Stolen, Pledging to Reimburse Users in Crypto
https://cointelegraph.com/news/bitpoint-reveals-amounts-stolen-pledging-to-reimburse-users-in-crypto

With the increased number of Bitcoin users and exchange users the danger of hacking is becoming bigger. The problem is that exchanges don't invest enough in security and users are not aware enough of all possible illegal activities. It's not only about hacking because of money but also sensitive personal data. And to be honest what exchange protects its users enough or compesates the financial loss.

The reputation of exchanges become null because of these hackers. You know what? Hackers should be eradicated in this industry because they are ruining the investment and people. A lot of exchanges have died because of them. Though exchanges give their best in order to make their clients or traders happy. They want traders to have sufficient grounds in order to be profitable, yet hackers are collecting money from the hardworks of others. Shame to them.

In my own advice I don't even let my funds be in any exchanger for the next 24 hours we never can tell what next will happen is good to store your assets in a wallet where you have the private key to or better still sell them to Fiat and keep the Money in the bank.

As much as we really stress that important point in this community, there are a lot of inexperience traders who thought that letting their funds sit in a exchange is a good advice, I'm very nervous having $200-$500 worths of funds sit in an exchange. Call me paranoid or something, but I will just immediately move it to a wallet that is safe and that I have control of my keys.

https://twitter.com/BeaxyExchange

https://support.beaxy.com/hc/en-us/articles/360033785494-August-12-2019-Trading-Halt

Beaxy Exchange...

Thanks for sharing this information. It is all the exchanges' responses to keep the token safe. While it is always the community to be the faster responser rather than the security team. Power of the security team is limited, power of community is unlimited. That's why we view the community so important.