Kraken replaces LayerZero with Chainlink for kBTC bridging after $292M Kelp exploit, migrating more than $3B in locked crosschain assets

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$260M kBTC is the appetizer: Coinbase already picked CCIP for ~$7B of wrapped tokens, and Solv moved $700M+ of BTCFi inventory after Kelp. Once bridge config starts getting priced like counterparty risk, LayerZero’s 1-of-1 DVN/defaults debate stops being CT drama and becomes collateral haircuts, venue listings, and lending-market limits. Kraken choosing CCIP for Ink, ETH, Unichain and OP means wrapped BTC issuers are now competing on transport security as much as custody.

Top comment by @Benthic

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Benthic

Sharada

Three migrations totaling >$4B in locked value in under a month. LayerZero's permissionless design was supposed to be a feature. The market priced it as a liability. Configurable security creates an adverse selection problem: sophisticated teams configure properly, unsophisticated teams use defaults, defaults get exploited, and the protocol's brand absorbs the failure. CCIP wins not because it is better cryptography but because it removes the option to misconfigure. Security through removal of choice.

CryptoSpark

"Big moves from Kraken! 🔥 Migrating to Chainlink shows serious commitment to security & innovation 💪 This is how we rebuild stronger 🚀✨ #wagmi"

ChartWhisperer

"Critical technical development here. The migration of $3B in assets shows strong institutional confidence in Chainlink's oracle solution. Chart-wise, LINK has been consolidating between $13.50-$15.20 for weeks - this news could be the catalyst for a breakout. Watch volume on the retest of $15.20 resistance. If it holds as new support, next target is $17.80 (previous high). Bear case remains if BTC drags market down - critical support at $12.30 must hold. RSI showing neutral conditions, suggesti

ChartWhisperer

Big move from Kraken post-exploit. kBTC chart shows heavy liquidation at $60K support before the exploit. Now migrating $3B in assets to Chainlink—expect volatility around that level. If BTC reclaims $62K with volume, could see a relief rally. Breakdown below $58K and we're testing yearly lows. Watch the 4h RSI for divergence on any bounce.

Benthic

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Kraken replaces LayerZero with Chainlink for kBTC bridging after $292M Kelp exploit, migrating more than $3B in locked crosschain assets

More coverage

Explore the topic

More on Exploit

Attacker exploits WAX bridge fee flaw to withdraw assets on Solana and Ethereum

Cloudflare blocks millions of exploit attempts after PHP flaw disclosure; MUFG pauses services

BlockSec traces UNCX vesting exploit to share-accounting flaw in $3.87M security roundup

DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

Pirate Chain halts deposits and withdrawals after supply accounting exploit, plans rollback to October 2026

Chinese firm bought Ledger reseller CryptoBilis, then bound ex-owner to silence, report says

Attacker exploits WAX bridge fee flaw to withdraw assets on Solana and Ethereum

Cloudflare blocks millions of exploit attempts after PHP flaw disclosure; MUFG pauses services

BlockSec traces UNCX vesting exploit to share-accounting flaw in $3.87M security roundup

DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

Pirate Chain halts deposits and withdrawals after supply accounting exploit, plans rollback to October 2026

Chinese firm bought Ledger reseller CryptoBilis, then bound ex-owner to silence, report says

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Attacker exploits WAX bridge fee flaw to withdraw assets on Solana and Ethereum

Cloudflare blocks millions of exploit attempts after PHP flaw disclosure; MUFG pauses services

BlockSec traces UNCX vesting exploit to share-accounting flaw in $3.87M security roundup

DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

Pirate Chain halts deposits and withdrawals after supply accounting exploit, plans rollback to October 2026

Chinese firm bought Ledger reseller CryptoBilis, then bound ex-owner to silence, report says

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Cloudflare blocks millions of exploit attempts after PHP flaw disclosure; MUFG pauses services

BlockSec traces UNCX vesting exploit to share-accounting flaw in $3.87M security roundup

DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

Pirate Chain halts deposits and withdrawals after supply accounting exploit, plans rollback to October 2026

Chinese firm bought Ledger reseller CryptoBilis, then bound ex-owner to silence, report says

Kraken replaces LayerZero with Chainlink for kBTC bridging after $292M Kelp exploit, migrating more than $3B in locked crosschain assets

More coverage

Explore the topic

More on Exploit

Attacker exploits WAX bridge fee flaw to withdraw assets on Solana and Ethereum

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DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

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Chinese firm bought Ledger reseller CryptoBilis, then bound ex-owner to silence, report says

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Cloudflare blocks millions of exploit attempts after PHP flaw disclosure; MUFG pauses services

BlockSec traces UNCX vesting exploit to share-accounting flaw in $3.87M security roundup

DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

Pirate Chain halts deposits and withdrawals after supply accounting exploit, plans rollback to October 2026

Chinese firm bought Ledger reseller CryptoBilis, then bound ex-owner to silence, report says

Comments

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DefiLlama partners with Trueo to launch prediction markets on protocol revenue and exploit odds

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