Jefferies says that crypto hacking attacks and bank runs on lending platforms may weaken Wall Street's interest in blockchain.

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