The recent IT failure at Lloyds Bank is indeed a bit ridiculous, directly exposing the transaction records and privacy of 450,000 customers.
Wasn't traditional finance supposed to be as steady as Mount Tai? Instead, it’s another security incident caused by such a low-level bug. The fragility of these traditional institutions is practically giving a boost to the privacy narrative of cryptocurrencies. It’s bad enough that assets are being diluted by inflation; now even personal privacy has become a leaky wall.
From a macro perspective, such events only serve to repeatedly remind large holders: the trust cost of centralized custody is out of control. Although it doesn't directly reflect on the market in the short term, the logical rigor of decentralized finance and self-custody has been further reinforced. This is a classic case of the old path not working, pushing everyone to move onto the blockchain. Do people trust the bank's firewall or the hash value of the code? #Privacy #Security #Finance #CyberAttack $BTC $ETH
