📰 【JPMorgan: KelpDAO incident causes $20 billion in DeFi total locked value to evaporate, funds favor USDT for risk aversion】


BlockBeats news, April 23, according to The Block report, JPMorgan analysts stated in a Wednesday report that ongoing DeFi exploit incidents and sluggish growth continue to limit institutional interest in the DeFi space. The report was authored by Managing Director Nicolas Panigirtzoglou and his team. The analysts indicated that recent major hacking events related to Kelp DAO have caused the total value locked (TVL) in DeFi to evaporate by approximately $20 billion within just a few days. The attack involved a cross-chain bridge vulnerability, where the attacker minted $292 million worth of uncollateralized rsETH tokens and used them as A...

Holy crap! JPMorgan’s old-timers finally admit it? $20 billion TVL just disappeared like that, and that damn KelpDAO vulnerability directly nailed the coffin shut on DeFi! Institutional funds are rushing into USDT for safety? I think they’re just afraid of getting rug-pulled by smart contracts! Always talking about decentralization, and then a cross-chain bridge vulnerability crashes the system—what a joke. This is even worse than just buying spot! 👇👇👇👇👇
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