I don't believe "Code is Law" has been disproven. I used AI to roughly analyze historical cryptocurrency security data. The true impact on underlying blockchain security (smart contracts + consensus layer) accounts for about 26%. Most of these issues remain focused on traditional internet security problems within the cryptocurrency world, such as internal system breaches and private key leaks. However, because CEX has such a huge influence, the market usually categorizes these incidents as cryptocurrency security incidents and equates them directly with "Crypto is insecure," without delving into the specific layer involved in the short term. Furthermore, the frequent security incidents of the past two years and the emergence of AI will amplify this sentiment. A phenomenon will emerge where even biased and irrational sentiment is enough to shake the market. In the long run, the market may calm down and begin to think about and understand the underlying issues, but this will take time.