THORChain's May 15 multichain exploit, resulting in over $11 million in losses across nine chains, has triggered an emergency halt and raised significant concerns about cross-chain trust and security in DeFi. The incident underscores the need for robust monitoring, incident response, and compliance measures in interconnected financial infrastructure.
Kraken is migrating its wrapped Bitcoin (kBTC) to Chainlink's Cross-Chain Interoperability Protocol (CCIP) due to ongoing security concerns in DeFi. This move shifts the debate around wrapped Bitcoin infrastructure and issuer responsibility.
New analysis reveals state-sponsored groups now dominate crypto crime, laundering billions through sophisticated cross-chain networks.
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.
Changelly and Tonkeeper have teamed up to make cross-chain deposits into TON a seamless, in-wallet experience.
LayerZero attributed the $292 million KelpDAO bridge exploit to North Korea's Lazarus Group's TraderTraitor subunit. Attackers drained 116,500 rsETH on Saturday by exploiting a single-verifier architecture, nearly stealing an additional $100 million before being stopped. The attack triggered $10 billion in withdrawals from Aave and exposed critical vulnerabilities in cross-chain bridge security.
A $292 million exploit at KelpDAO set off a broad retreat across decentralized finance over the weekend, draining roughly $10 billion across the DeFi industry and forcing multiple protocols to freeze markets tied to rsETH. The breach began late Saturday when an attacker drained about 116,500 rsETH from KelpDAO’s cross-chain bridge. The stolen tokens were […] The post DeFi users pull $10 billion out of the market as $292 million exploit sparks bank-run optics appeared first on CryptoSlate.
The USDC Bridge adds to Circle's Cross-Chain Transfer Protocol, which often sees over $500 million worth of USDC transfers each day.
