We co-sleep.
It's natural. Every mammal on the planet does it. Majority of cultures around the world do it. It's how we're meant to be. There's no PURPLE crying doing things this way.
Putting a baby in a crib is not. It's the industrial age way of making sure parents can get to work. Children grow up with separation anxiety and unable to self-soothe. They can't thrive if they have to focus on surviving.
As for the risks...
If you're a drinker or a smoker... or maybe a heavy sleeper, yea. Be aware. But you have just as much a chance or higher of a baby dying in the crib when swaddled. You just wouldn't notice.
But to each their own.