What to know:
- Crypto firms managing roughly $4 billion in assets are moving to Chainlink CCIP due to renewed scrutiny over bridge security following an exploit.
- DeFi protocol Lombard is migrating its over $1 billion in bitcoin-backed assets from LayerZero to Chainlink CCIP after a security review following the Kelp DAO exploit.
- The shift comes after the Kelp DAO exploit drained $292 million from its LayerZero-powered bridge, increasing concerns over cross-chain infrastructure.
As a researcher tracking cross-chain solutions, I’ve observed a significant shift in asset movement. Around $4 billion is now either already using, or is in the process of moving to, Chainlink’s CCIP bridge. This comes at a time when the security of these systems is under intense review, particularly after a recent incident where Kelp’s LayerZero-based bridge suffered a $292 million drain.
Lombard, a decentralized finance platform, is moving away from LayerZero and switching over $1 billion worth of assets backed by Bitcoin to Chainlink’s Cross-Chain Interoperability Protocol. This move reflects a growing trend within the industry.
As an analyst, I’ve been following Lombard’s recent moves. They’ve launched two new tokens – LBTC and BTC.b – both backed by Bitcoin. This change came after they conducted a thorough internal security review following the security incident back in April. It seems they’re proactively strengthening their systems.
This change is similar to steps taken by other projects like Kelp DAO, Solv Protocol, Re, and the cryptocurrency exchange Kraken. These moves involve approximately $4 billion in assets.
CCIP is a competitor to protocols like LayerZero that allow assets to be transferred between different blockchains. These protocols are receiving increased attention due to the significant amount of value they handle.
Lombard is moving its assets to several blockchains like Solana, Etherlink, Berachain, Corn, and TAC. It’s also stopping its use of LayerZero on the Morph and Swell platforms.
Lombard explained that CCIP provides independent node operators, built-in security measures to control transaction speeds, and thoroughly checked systems. They are also using Chainlink’s standard for transferring tokens between different blockchains, which works by destroying tokens on one chain and creating new ones on another.
Chainlink Labs’ chief business officer, Johann Eid, noted that investors are increasingly moving towards safer investments across the entire industry.
LayerZero did not immediately respond to a request for comment.
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2026-05-15 19:04