JPMorgan says persistent security flaws curb DeFi’s institutional appeal

What Happened

JPMorgan reports persistent security vulnerabilities and stagnant total value locked (TVL) undermine DeFi's institutional appeal. The KelpDAO exploit erased $20 billion in TVL within days, exposing structural risks when attackers breached a cross-chain bridge. The bank notes crypto participants increasingly seek refuge in stablecoins, mirroring traditional investor behavior during uncertain times.

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