By this logic custodial dollars in your traditional bank account are not "dollars".
However they clearly are dollars.
And inverse, calling casino chips dollars because they are valued in dollars is also not right. Clearly they are casino chips.
It's important to separate what things are from how they are handled. Yes custodial bitcoin can stolen, but the thing stolen was bitcoin.
Casino chips and dollars have very different properties, so each should be called what it is to make sure we are referring to what thing with what properties. And again the *handling* of that thing, whether honest or dishonest, is a separate matter to what the thing *is*.
