Solv Protocol is migrating over $700 million in tokenized Bitcoin infrastructure from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), citing security concerns following the $292 million Kelp DAO exploit.
The move comes as scrutiny intensifies on cross-chain bridge security in decentralized finance. Solv is deprecating LayerZero bridge support for Corn, Berachain, Rootstock, and TAC, standardizing on Chainlink CCIP instead.
"Security is the foundation of everything we build," said Solv Protocol CTO Will Wang, adding the migration provides "institutional-grade security assurance."
Solv Protocol, launched on Ethereum in 2021, operates SolvBTC, a tokenized Bitcoin product allowing users to deploy wrapped BTC across blockchains to earn yield.
The pivot follows the Kelp DAO exploit, which LayerZero attributed to North Korea's Lazarus Group. Kelp DAO has also announced plans to move to Chainlink CCIP.
Cross-chain bridges remain a prime target for hackers, including the $622 million Ronin bridge hack in 2022 and the $230 million WazirX exploit in 2024, both linked to North Korean state-sponsored hackers.
Chainlink Labs Chief Business Officer Johann Eid called Solv's migration "a broader shift across DeFi" toward higher security standards.