Huo Xing Cai Jing reports that, according to CoinDesk, Angus Fletcher, Head of Digital Assets at State Street, stated at the Consensus Miami conference that, amid a recent surge in DeFi attacks, institutional investors are calling for improved blockchain security. He emphasized that the young crypto industry must find solutions now, before trillions of dollars in real-world assets are tokenized. Fletcher believes that interoperability between blockchains must be clearly defined and understood, and institutional clients need clarity on the legal ownership and rights associated with cross-chain tokens. Dennis Bree, Head of Institutional at Morpho, noted that April may have been the month with the most hacking incidents in DeFi history, and regulators are conducting increased due diligence on the security of collateralized assets.
State Street Highlights Blockchain Security Needs Amid Rising DeFi Attacks
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Summary
State Street’s digital assets head, Angus Fletcher, called for stronger blockchain security at Consensus Miami, citing recent DeFi exploit incidents. He warned that solutions must be in place before the large-scale tokenization of real-world assets. Fletcher also emphasized the need for clear legal ownership and inter-chain interoperability for institutional clients. Dennis Bree of Morpho noted that April was the worst month for DeFi security breach events, with regulators now placing greater emphasis on collateral safety.
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