The Kraken crypto exchange has announced that it is switching its cross-chain provider from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This decision comes amid changes being implemented by many protocols following a security incident involving Kelp DAO in April. This is reported by Cointelegraph.com reports .
The company has selected Chainlink CCIP as the sole infrastructure to secure Kraken Wrapped Bitcoin (kBTC) and all future token issuances. Kraken emphasized that it chose this system due to its high-level security requirements, independent nodes, and risk management capabilities.
LayerZero faced severe criticism following the attack on Kelp DAO in April, during which approximately $292 million in assets were stolen. LayerZero acknowledged issues within its internal systems and apologized, but the incident prompted many projects to migrate to more secure protocols.
In addition to Kraken, major projects such as Kelp DAO, Solv Protocol, and Re have also announced they are migrating their assets to Chainlink CCIP. Following the Kelp hack, over $3 billion in assets were moved to the CCIP system, and many platforms temporarily suspended transactions conducted via LayerZero.
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