If you are the only person in the world with the private key to your coins, you are the only person who can move them. Period.
FTX is a centralized entity that custodies funds. It has nothing to do with a blockchain, which could have completely prevented this.
There are many examples of decentralized exchanges (DEXs) for which it is mathematically impossible to loan out depositor's funds without their consent, because the only person capable of signing a transaction to move the funds is the depositor themself.
If you are the only person in the world with the private key to your coins, you are the only person who can move them. Period.
FTX is a centralized entity that custodies funds. It has nothing to do with a blockchain, which could have completely prevented this.
There are many examples of decentralized exchanges (DEXs) for which it is mathematically impossible to loan out depositor's funds without their consent, because the only person capable of signing a transaction to move the funds is the depositor themself.