Never assume you will get your crypto back in the event an exchange does bankrupt, get your crypto off exchanges and remember bankruptcy law will apply

Many more crypto exchanges, could declare bankruptcy in the coming weeks given the likelihood of prolonged volatility in the crypto market.

Generally speaking (and depending on where you live) in the event of bankruptcy those that are owed monies are lumped into two categories. Secured and unsecured creditors. People that are owed money are paid by the liquidators according to a specific priority. Lawyers are generally first, then secured creditors then unsecured creditors, until the pool of monies is exhausted. So if your favourite crypto exchange goes bankrupt, whether you get paid or not depends on whether you are classed as a secured or unsecured creditor and whether there is enough money to pay you depending on where you sit in the que.

Coinbase recently stated that if they go bankrupt, crypto users will be classed as "secured" creditors. This is a little misleading for two reasons. Firstly it is not up to them to decide who gets classed as a secured or unsecured creditor. Secondly there is no guarantee they will have enough to pay you out anyway.

In summary:

If an exchange goes bankrupt, bankruptcy law will apply, you will either get classed as a secured or unsecured creditor. Secured creditors are higher up the priority list and get paid above unsecured creditors. There is no gaurantee you will be classed as a secured creditor, it is not up to exchanges to make this determination. There is no guarantee they will have the funds to pay you. You are taking a huge risk in the current environment keeping your crypto on exchanges.