Lombard Finance is migrating over $1 billion in Bitcoin-backed tokens from LayerZero to Chainlink's CCIP, citing security concerns after the Kelp DAO exploit. Kraken made a similar move.
Kraken migrates its $266M market cap wrapped Bitcoin (kBTC) from LayerZero to Chainlink's CCIP after LayerZero's role in a $292M Kelp DAO exploit, citing enterprise-grade security.
Crypto projects with more than $3 billion in total value locked have migrated their cross-chain infrastructure to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) following a $292 million exploit at KelpDAO, which heightened scrutiny of bridge security across decentralized finance. Chainlink confirmed the migration wave, saying four protocols, including KelpDAO, Solv Protocol, Re, and Tydro, had begun […] The post Chainlink emerges as the unlikely $3B winner of KelpDAO exploit as DeFi projects dump LayerZero appeared first on CryptoSlate.
Solv Protocol will move its tokenized Bitcoin infrastructure to Chainlink, following Kelp DAO's lead after it blamed LayerZero for a hack.
Bryan Pellegrino, co-founder and CEO of LayerZero, disputes Kelp DAO’s accusations and said a postmortem by external security firms will be published soon.
The protocol shift comes as a $71 million court fight continues to unfold.
Mantle, EtherFi Foundation, Golem Foundation, Lido DAO, Ethena, LayerZero, Ink Foundation and Tyrdo have all made pledges to the “DeFi United” recovery effort.
Week-end explosif en DeFi : exploit de 293 M$ sur le bridge KelpDAO via LayerZero, 200 M$ de mauvaise dette sur Aave et un bank run massif de 8 milliards. LayerZero et Kelp s’accusent mutuellement. L’article Piratage à 293 millions : LayerZero et KelpDAO se déchirent sur les responsabilités est apparu en premier sur Journal du Coin.
LayerZero said that Kelp’s DVN setup allowed the $290 million exploit, as investors questioned which protocol would step up to cover the shortfall.
LayerZero claims Kelp DAO's inadequate 1/1 DVN configuration enabled attackers to steal $290 million in rsETH, with preliminary signs pointing to North Korea-linked threat actors. The exploit used stolen funds as collateral on Aave, creating $195 million in bad debt and causing Aave's TVL to drop by $8.9 billion. LayerZero argues the incident reflects an unsafe application configuration rather than a protocol compromise, while debate continues over who should absorb losses.
Hafta sonuna damga vuran ve AAVE'den 10 milyar dolara varan çıkışların olmasına neden olan KelpDAO hack saldırısının arkasından da Kuzey Koreli Lazarus grubu çıkmış gözüküyor. LayerZero'dan yapılan açıklamaya göre saldırının arkasında "yüksek seviyede sofistike ve devlet destekli Lazarus" bulunuyor.
