According to ME News, on August 4 (UTC+8), 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 its future assets while retaining control over token contracts, rate limits, and transfer settings. (Source: ChainCatcher)
BitGo Switches 7.3B WBTC Cross-Chain Provider to Chainlink CCIP
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Summary
On-chain reports indicate that BitGo has moved its $7.3 billion in WBTC from LayerZero to Chainlink CCIP, following a $292 million DeFi exploit on Kelp. This shift is part of a broader trend, with $14.5 billion already transferred from LayerZero to Chainlink. BitGo will use CCIP for future cross-chain transfers while retaining control over token contracts and rate limits.
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