Odaily Planet Daily report: Cryptocurrency infrastructure company BitGo will replace LayerZero with Chainlink CCIP as the exclusive cross-chain service provider for its $7.3 billion in WBTC. Following the $292 million cross-chain bridge exploit involving Kelp, multiple projects have announced migrations from LayerZero to Chainlink, with a combined disclosed migration value of $14.5 billion. BitGo will utilize CCIP for future assets while retaining control over token contracts, rate limits, and transfer settings.
BitGo Transfers $7.3B in WBTC Cross-Chain Services to Chainlink CCIP
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Summary
On-chain news reveals that BitGo has migrated $7.3 billion in WBTC cross-chain services from LayerZero to Chainlink CCIP. The move follows a DeFi exploit at Kelp that resulted in a $292 million loss. Since then, projects have collectively moved $14.5 billion away from LayerZero. BitGo will use CCIP for future assets while retaining control over token contracts and transfer settings.
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