Kraken: Will Replace LayerZero with Chainlink as Cross-Chain Infrastructure

Odaily reported that Kraken announced on X platform that Chainlink CCIP will become the sole cross-chain infrastructure for kBTC and future wrapped assets, replacing the original LayerZero protocol. This decision followed last month's $292 million LayerZero cross-chain bridge exploit incident at Kelp.

Currently, a total of over $3 billion in total value locked has migrated from LayerZero. The migration covers blockchains including Ethereum, Ink, Unichain, and Optimism. The current market cap of kBTC is approximately $260 million. Kraken stated that it will continue to be responsible for the issuance and custody of assets, while Chainlink CCIP will handle cross-chain asset transfers. (coindesk)