Mate, There will always be a gap between convenience and security.
I feel sad for your friend, but He should be more careful.
In bank it's convenient, but we are not the owner of our money even if it's regulated. As in severe bailout case that 30K can be slashed to 10K or whatever as per govt rule.
But in the case of crypto, we are the owner of our coins; It can't decrease or stolen without our known or known mistake.
But, I also feel there should a way anyone could recover the crypto used unauthorized.
I am pretty sure, Above system will appear soon as crypto still in the infant stage and unregulated.