Kelp DAO exploit may force big banks to rethink their blockchain plans, Jefferies warns
A major decentralized finance (DeFi) hack could prompt Wall Street firms to reassess the pace of their blockchain and tokenization efforts, Jefferies analysts wrote in a report. The note follows a $293 million attack on Kelp DAO on April 18, in which attackers minted unbacked tokens and used them as collateral to borrow other assets…