If you wire money to the wrong place, and that person won't return it, that's theft. Likewise, if someone suddenly receives an unexpected million dollars in the account, they should not consider spending it -- that would be a big mistake.
maybe, but good luck prosecuting/recovering it if it's outside your country's jurisdiction.
Over here, for a European transfer you need to fill in an IBAN number, which contains the country code of the destination. The transfer will fail as well if you don't provide the right name with the number.
For international transfers, you need to provide even more information like BIC numbers, etc.
With crypto, it's a random address. If you or someone else manipulates the address by even a single bit, it's gone.
Secondly, unless the destination person/organization is actually criminal, reversing a mistake is usually a phone call/polite letter away. If that fails then the legal system is there.
I guess wiring money to a criminal by mistake is possible but it seems unlikely. Deliberately wiring money to a criminal is very possible but you are on your own there. And even then it should be possible to track them down using the destination bank account unless the bank itself is shady.
Crypto has all of the disadvantages of wiring money (I guess it is usually cheaper) with none of the advantages.
Correction: Citigroup didn't owe the money, they were acting on behalf of Revlon, who owed the money.