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.
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.
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.
