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Deep Tide TechFlow News, April 23, according to The Block, JPMorgan analysts stated that frequent DeFi security incidents and the stagnation of total locked value (TVL) measured in ETH continue to limit institutional interest in DeFi. The report said that recent cross-chain bridge attacks related to Kelp DAO caused approximately $20 billion in DeFi TVL to evaporate within a few days. The attackers minted about $292 million worth of uncollateralized rsETH and lent out real ETH on Aave, resulting in approximately $230 million in bad debt. JPMorgan also pointed out that after security incidents, users tend to shift to Tether's USDT for risk hedging.