I have witnessed someone attempting to snatch a 4x4 stuck in mud that was very close to a tragedy.
The stuck vehicle was too far from firm ground to reach with a single snatch so the people involved decided it was a good idea to join 2 snatch straps together with a shackle.
One of the straps failed where it was attached to the stuck vehicle resulting the the shackle in the middle being slingshotted towards the recovery vehicle. Luckily for the driver it hit the rear of the steel drop side tray. It very nearly punched a hole clean through it.
I would be surprised if a strap by itself would have enough mass to be too hazardous to either driver. Its when they are connected together or attached to the vehicle improperly that they pose a far greater risk.
I'm not sure anything "needs to be done" about this. The straps come with a lot of warnings and safety information. If people choose not to read or not to follow this information then they are choosing the risk. If straps are failing in normal usage and causing fatalities then this may mean they are not constructed properly or the standards are not rigorous enough. Not sure who is or should be investigating this? The coroner?

