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Kelp DAO Ditches LayerZero for Chainlink CCIP Following $292 Million Bridge Exploit

GateNews
Partnerships & EcosystemSecurity IncidentsExchange Risk
ZRO0.27%
LINK0.27%
According to The Block, Kelp DAO abandoned LayerZero for Chainlink's Cross-Chain Interoperability Protocol (CCIP) following the $292 million bridge exploit last month. A Chainlink representative confirmed Kelp DAO is the first major protocol to migrate away from LayerZero since the attack. On April 18, attackers exploited a single-verifier configuration in LayerZero's Omnichain Fungible Token bridge to drain 116,500 rsETH. Analysis shows 47% of approximately 2,665 LayerZero applications were running the same single-verifier setup at the time. Chainlink's decentralized oracle networks require at least 16 independent node operators to validate cross-chain transactions, addressing the architectural vulnerability that enabled the exploit.
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Market Whisper05-06 01:52
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