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Make one mistake with that address and your crypto is gone!! at least with IBAN/SWIFT the funds can be returned to the original account.

One mistake like putting in the entirely incorrect address? It's impossible to initiate a transfer with an invalid address, as they have checksums.

One mistake may mean copy-pasting wrong address. Or putting an extra "0" at the end of amount.

This happens. Both are (most of the time) reversible in standard banking.

My understanding was that wire transfers weren't very reversible.

They often are and it depends how quickly you react. This is a good description https://laws101.com/can-you-reverse-a-wire-transfer/

https://arstechnica.com/tech-policy/2021/02/citibank-just-go... - and that's not some poor Joe McConsumer, but financial sharks.

Heh, unless you accidentally sent to hedge funds, /s.

How about copy/pasting the wrong address then (either somebody else‘s, or one the recipient no longer has key access for)?

Can it? When I sent money to the wrong account, my bank told me "what's gone is gone"

Fortunately the sum was trivial, but nevertheless ...