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Jefferies says that crypto hacking attacks and lending-platform runs or mass withdrawals could weaken Wall Street’s interest in blockchain.

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ME News, April 22 (UTC+8): Citing a Jefferies LLC report, Bloomberg said that last weekend’s hack targeting small crypto projects involving nearly $300 million, followed by a $10 billion liquidity run on the largest decentralized lending platform, may weaken Wall Street’s interest in blockchain technology. Andrew Moss, an analyst with Jefferies’ digital assets research team, said that over the past year, banks, asset management companies, and payment institutions have been developing blockchain products similar to the technical systems that were exploited by North Korean hackers this time. The report said that such incidents are unlikely to directly affect traditional financial markets, but traditional financial institutions may pause related processes and reassess risks before further advancing their blockchain business. (Source: MLion)
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