{"id":96456,"date":"2026-04-23T17:45:06","date_gmt":"2026-04-23T14:45:06","guid":{"rendered":"https:\/\/u1f987.com\/en\/?p=96456"},"modified":"2026-04-23T17:50:23","modified_gmt":"2026-04-23T14:50:23","slug":"defi-hacks-cast-doubt-on-wall-streets-crypto-ambitions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/defi-hacks-cast-doubt-on-wall-streets-crypto-ambitions\/","title":{"rendered":"DeFi Hacks Cast Doubt on Wall Street’s Crypto Ambitions"},"content":{"rendered":"

Following recent attacks on the Drift<\/a> and Kelp<\/a> protocols, users have withdrawn over $15 billion from the DeFi sector. According to Andrew Moss of Jefferies, this may dampen Wall Street firms’ interest in blockchain technologies, reports Bloomberg<\/a>.\u00a0<\/p>\n

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TVL of the DeFi sector. Source: DefiLlama.\u00a0<\/figcaption><\/figure>\n

Over the past year, firms like BlackRock, Franklin Templeton<\/a>, and Apollo Global Management have developed products<\/a> based on technologies similar to those hacked by the Lazarus Group, noted the expert.\u00a0<\/p>\n

At the end of March, the New York Stock Exchange partnered<\/a> with Securitize to launch trading of tokenized shares. Nasdaq is working<\/a> on a similar initiative.\u00a0<\/p>\n

According to RWA.xyz, the RWA sector has grown by approximately 400% since 2025, surpassing $30 billion. Ark Invest believes<\/a> the figure could reach $11 trillion in the next five years.\u00a0<\/p>\n

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Source: RWA.xyz<\/a>.\u00a0<\/figcaption><\/figure>\n

The damage from the hacks is unlikely to affect traditional markets, Moss stated. However, many Wall Street entities may slow down their adoption of cryptocurrencies and reassess risks.\u00a0\u00a0<\/p>\n

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\u201cThis poses threats to any outlook, regardless of who is at fault. We do not expect financial companies to turn away from digital assets, but their tokenization initiatives in banks, asset management, fintech, and payment systems may temporarily slow down,\u201d explained a Jefferies representative.\u00a0<\/em><\/p>\n<\/blockquote>\n

The $290 million Kelp hack was the largest since the beginning of the year and the second largest in recent weeks. On April 1, the Drift Protocol platform was attacked, losing $285 million. Cybersecurity experts have linked<\/a> both incidents to North Korean hackers.\u00a0<\/p>\n

Crisis of Confidence within DeFi<\/h2>\n

The situation has already triggered a crisis of confidence among DeFi users. Following the Kelp exploit, investors began withdrawing funds en masse from the leading lending protocol Aave. In less than a week, the outflow of assets exceeded<\/a> $16 billion.\u00a0<\/p>\n

The incident affected not only Aave. CryptoQuant analysts noted a decline in the supply of the stablecoin<\/a> USDe from Ethena. Over three days, the figure plummeted by $800 million.\u00a0<\/p>\n

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USDe supply fell $800M (-14%) in 3 days: one of its largest redemptions.<\/p>\n

Liquidity is exiting fast, and pressure is spreading across DeFi. pic.twitter.com\/ymRBzbckYo<\/a><\/p>\n

\u2014 CryptoQuant.com (@cryptoquant_com) April 22, 2026<\/a><\/p><\/blockquote>\n