It's more about incentive alignment, and lack of free get out of jail cards -- people tend to assume you can just roll back fraudulent fiat transactions. Fuck up in crypto? Poof, the money is gone...

Compared to legacy finance, the exchanges are indeed bugfree. I would sooner trust Binance security team than people who think SMS is enough of a second factor. Never mind all the 'European unicorn' challenger 'banks'.