BitGo is changing the exclusive cross-chain service provider for its $7.3 billion Wrapped Bitcoin (WBTC) from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, according to CoinDesk. The move comes after the $292 million Kelp cross-chain bridge exploit, which was followed by several projects disclosing plans to migrate from LayerZero to Chainlink. Based on disclosed figures, the total value tied to those migration announcements has reached $14.5 billion. BitGo said it will use CCIP for future assets while keeping control over token contracts, rate limits, and transfer settings. The shift puts BitGo among the latest firms to rework cross-chain infrastructure choices after the Kelp incident.
Crypto infrastructure firm BitGo will replace LayerZero with Chainlink CCIP as the exclusive cross-chain service provider for its $7.3 billion Wrapped Bitcoin (WBTC), according to CoinDesk.
The change follows the $292 million Kelp cross-chain bridge exploit. After that incident, several projects said they would move from LayerZero to Chainlink, with disclosed migration value totaling $14.5 billion.
BitGo said it will use CCIP for future assets while retaining control over token contracts, rate limits, and transfer settings.
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