I don't disagree with you. I think it's a strange case where the tech-smart "code is law" proponents really think, in their minds, that it's invincible "because encryption!", and every time a new heist/scam occurs they dig their heels in deeper and say "that's different, it wasn't the _crypto_ that failed..."

Even if it wasn't for elaborate rug-pulls, you could still lose everything to an evil-maid with a $5 key logger. That is just untenable.