Solv Protocol Will Dump LayerZero, Migrate $700M Tokenized Bitcoin Tech to Chainlink – Decrypt

Briefly
Solv Protocol is migrating greater than $700 million in tokenized Bitcoin infrastructure from LayerZero to Chainlink CCIP.
The transfer follows the $292 million KelpDAO exploit tied to LayerZero-powered bridge infrastructure.
The migration provides to rising scrutiny round cross-chain bridge safety in DeFi.
One other crypto challenge is leaving blockchain interoperability protocol LayerZero after the fallout from the $292 million Kelp DAO exploit intensified scrutiny round cross-chain bridge safety.In an announcement Thursday, Solv Protocol stated it's migrating the infrastructure that powers greater than $700 million in tokenized Bitcoin from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), following what it described as a broader safety evaluation of cross-chain methods.The protocol stated it's deprecating LayerZero bridge help for Corn, Berachain, Rootstock, and TAC whereas standardizing its infrastructure round Chainlink’s CCIP.“Safety is the muse of every thing we construct at Solv, and our migration to Chainlink CCIP reinforces that dedication on the highest stage,” Solv Protocol Chief Know-how Officer Will Wang stated in a press release. “By absolutely securing SolvBTC and xSolvBTC cross-chain transfers with CCIP, we're offering customers the best assurance that confirmed, defense-in-depth infrastructure secures all cross-chain transfers.”In line with Wang, the migration positions Solv to scale with “the reliability and institutional-grade safety assurance the market calls for.”Launched in 2021 on the Ethereum community, Solv Protocol is a DeFi platform constructed round SolvBTC—a token tied to the worth of Bitcoin—that lets customers deploy wrapped BTC and different Bitcoin-based property throughout a number of blockchains to earn yield.The transfer comes weeks after attackers drained roughly $292 million from infrastructure tied to Kelp DAO, a DeFi protocol that used LayerZero’s bridge expertise. Solv didn't straight point out Kelp DAO in its announcement, as an alternative referring broadly to “current cross-chain hacks noticed within the trade” alongside an intensive safety evaluation.“In accordance with this strategic migration, we're decreasing our threat publicity on our present bridging stack by deprecating SolvBTC and xSolvBTC LayerZero bridging help for Corn, Berachain, Rootstock, and TAC to as an alternative standardize on Chainlink CCIP, essentially the most battle-hardened and time-tested interoperability infrastructure throughout all blockchains,” the corporate wrote.Whereas cross-chain bridges let customers transfer property between blockchains, they've additionally turn out to be one among crypto’s most continuously attacked items of infrastructure as a result of they typically rely on difficult verification methods and maintain giant quantities of locked funds.Earlier outstanding assaults on blockchain community bridges embody the $622 million exploit of Axie Infinity’s Ronin community bridge in 2022, and the $230 hack of Indian crypto trade WazirX in 2024. Each assaults have been in the end linked by investigators to North Korean state-sponsored hacking teams.
After an intensive safety evaluation, we've got determined to deprecate @LayerZero_Core bridges for SolvBTC and xSolvBTC, and migrate to @Chainlink CCIP as our official cross-chain infrastructure answer for $700M+ in tokenized BTC (SolvBTC & xSolvBTC).
In gentle of current trade… pic.twitter.com/t6y7v9rt8J
— Solv Protocol (@SolvProtocol) Might 7, 2026In April, LayerZero blamed the Kelp DAO assault on North Korea’s Lazarus Group, and stated the challenge relied on a single-verifier setup regardless of suggestions to make use of a number of validators.This week, Kelp DAO disputed that account and accused LayerZero of approving the configuration tied to the exploit. Kelp then introduced plans to revamp its cross-chain system round Chainlink CCIP, the place transactions are verified by means of a number of unbiased validators as an alternative of a single verifier.“We're proud to work with the Solv staff and help their migration to Chainlink CCIP because the standardized manner that their wrapped Bitcoin property are securely transferred cross-chain,” Chainlink Labs Chief Enterprise Officer Johann Eid stated, in a press release. “Solv’s migration to CCIP displays a broader shift throughout the DeFi trade of main protocols adopting Chainlink to ship the best stage of safety required to convey the subsequent billion customers on-chain.”Every day Debrief NewsletterStart every single day with the highest information tales proper now, plus authentic options, a podcast, movies and extra.