The total migration of funds away from LayerZero following the $292 million KelpDAO hack in April has exceeded $15 billion. In recent months, dozens of projects have moved to Chainlink. These include Kraken’s kBTC and Bitcoin-focused DeFi platforms, Solv Protocol, with its SolvBTC and xSolvBTC. At the time of the hack, LayerZero allowed clients to determine the number of verifiers themselves. In contrast, Chainlink’s CCIP bridge is secured by at least 16 independent node operators. BitGo CEO Mike Belshe said that security is their top priority. He also emphasized that CCIP provides an interoperability standard accepted at the institutional level. It meets requirements for control, reliability, and risk management. Belshe also noted that BitGo will use CCIP exclusively for cross-chain interactions.
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BitGo is migrating the largest wrapped BTC, Wrapped Bitcoins ($7.4 billion), to Chainlink CCIP
The total migration of funds away from LayerZero following the $292 million KelpDAO hack in April has exceeded $15 billion. In recent months, dozens of projects have moved to Chainlink. These include...