JPMorgan Report: KelpDAO Hack May Dampen Wall Street Interest in Blockchain
BlockBeats News, April 22nd, according to Bloomberg, a weekend cyberattack targeting small-scale crypto projects involving nearly $300 million and the subsequent largest decentralized lending platform run on $100 billion (KelpDAO and Aave turbulence) may dampen Wall Street's interest in blockchain technology.
Andrew Moss, an analyst from JPMorgan's Digital Asset Research team, pointed out that over the past year, banks, asset management firms, and payment institutions have been developing blockchain products similar to the technology exploited by North Korean hackers in this incident. The report suggests that while such events are unlikely to directly impact the traditional financial markets, traditional financial institutions may pause related processes due to this, reevaluate risks before further advancing blockchain initiatives.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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