Modern losses start not with code, but with a human decision.

Just a few years ago, most losses in the crypto industry were attributed to code vulnerabilities. Smart contract errors, protocol bugs, incorrect updates. Today, the risk structure has shifted.
Direct technical hacks are becoming rare not because systems have become perfect, but because attacking the code has become more difficult and expensive. Instead, the attack increasingly starts long before interaction with the system — at the level of decisions made by humans.