The crypto industry, traditionally known for its innovation and functionality, is facing a new security challenge: the theft of private keys as a key, not just the keys. Instead, the industry has evolved into a complex, automated system that operates across multiple venues, custodians, vendors, and internal systems. This shift is seen as a significant shift from protecting only the keys to protecting the actual keys. The industry has introduced transaction security and policies to prevent malicious transactions that steal funds. The challenge of execution risk is to extend these practices across the entire industry. The author suggests that maintaining consistent security policies and multi-vendor access across a fragmented ecosystem is a challenge. Execution risk is not inherent but a result of how trading systems have been designed.