Kraken migrates to Chainlink CCIP after $292M exploit

Kraken is migrating its cross-chain assets from LayerZero to Chainlink CCIP after a $292M exploit, aiming for greater security. The switch covers kBTC and more, with no user action required.

Kraken is transitioning its cross-chain infrastructure from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) after a $292 million exploit involving a LayerZero-powered bridge used by Kelp. This change designates Chainlink CCIP as the exclusive cross-chain service for Kraken’s wrapped assets, such as kBTC, to enhance security and reliability. The migration will initially support networks including Ethereum, Optimism, Ink, and Unichain, with additional networks planned. Kraken selected Chainlink CCIP due to its enterprise-grade infrastructure, rigorous security standards, and certifications like ISO 27001 and SOC 2 Type 2. This move aligns with a broader industry trend, as platforms like Kelp, Solv, and Re are also adopting Chainlink, collectively migrating over $2.5 billion in total value locked. Kraken emphasized that users do not need to take any action, as the migration will be managed internally.