According to Bloomberg, citing a report from Jefferies LLC, a hack targeting small crypto projects over the weekend involving nearly $300 million, as well as the $10 billion capital run on the largest decentralized lending platform that followed, may weaken Wall Street’s interest in blockchain technology. Andrew Moss, an analyst with Jefferies’ digital asset research team, noted that over the past year, banks, asset management firms, and payment institutions have been developing blockchain products similar to the technical systems exploited by North Korean hackers this time. The report said that while such incidents are unlikely to directly affect traditional financial markets, it warns that traditional financial institutions may halt related processes and reevaluate risks before moving forward with their blockchain business.