Multiple Protocols Abandon LayerZero for Chainlink CCIP, $4B in Assets Migrated After KelpDAO Attack

According to BlockBeats, on May 16, multiple DeFi protocols announced large-scale migrations from LayerZero to Chainlink's cross-chain interoperability protocol (CCIP) following KelpDAO's $292 million attack, with approximately $4 billion in assets completed or underway in the transition.

Lombard, a Bitcoin-backed token protocol, became the latest to join the exodus, announcing it will migrate over $1 billion in BTC-backed assets (LBTC and BTC.b tokens) to CCIP and discontinue LayerZero usage on Morph and Swell chains. Kelp DAO, Solv Protocol, Re, and Kraken have previously completed similar migrations. Chainlink Labs Chief Commercial Officer Johann Eid stated: "We are witnessing a sustained flight-to-safety migration wave across the industry."