Lombard Moves $1 Billion of Bitcoin-Backed Assets From LayerZero to Chainlink CCIP After $292 Million Kelp DAO Exploit
Lombard Finance is migrating more than $1 billion of Bitcoin-backed assets from LayerZero to Chainlink CCIP following Kelp DAO's $292 million bridge exploit. The change covers the cross-chain infrastructure for LBTC and BTC.b, making CCIP the exclusive framework for those tokens.
The decision followed a comprehensive security review. Lombard previously said CCIP would replace LayerZero across Solana, Etherlink, Berachain, Corn and TAC, while LayerZero on Morph and Swell would be fully deprecated. The assets involved include more than $815 million of LBTC and more than $212 million of BTC.b.
From the sources (6 posts)
@chainlinkgodFLIGHT TO SAFETY CONTINUES 🕊️ Lombard is officially deprecating @LayerZero_Core and migrating to @Chainlink CCIP as its exclusive cross-chain infra for $1+ billion in Bitcoin-backed assets 🤝 Following a security review, @Lombard_Finance c
@chainlinkAfter an extensive security review, @Lombard_Finance deprecates its legacy solution & is migrating to Chainlink CCIP to secure $1B+ in Bitcoin assets. As Lombard’s exclusive cross-chain infra, CCIP is expanding the distribution of LBT
@chainlinkBy standardizing on Chainlink CCIP, Lombard is leveraging the highest level of cross-chain security backed by: • Defense-in-depth architecture • 16 independent nodes • Built-in risk controls • No vendor lock-In • Institutional certificatio
@cointelegraph🔥 UPDATE: Lombard Finance is replacing LayerZero with Chainlink CCIP for LBTC and BTC.b cross-chain infrastructure.
@chainlinkgodRT @Cointelegraph: 🔥 UPDATE: Lombard Finance is replacing LayerZero with Chainlink CCIP for LBTC and BTC.b cross-chain infrastructure. http…
@coinmarketcapLATEST: ⚡Lombard is migrating more than $1 billion in Bitcoin-backed assets from LayerZero to Chainlink CCIP following Kelp DAO’s $292 million bridge exploit.