BitcoinDecentralized Finance (Decentralized Finance), following final month’s Bitcoin asset know-how stack replace, Lombard Finance performed a complete evaluation of its Bitcoin asset know-how stack and can substitute LayerZero with Chainlink’s Cross-Chain Interoperability Protocol (CCIP).Kelp DAO exploit leads to $292 million loss
This follows the same transfer sooner or later earlier, the place the cryptocurrency trade Kraken additionally selected Chainlink CCIP. It’s going to use kBTC, a wrapped Bitcoin token, as an alternative of LayerZero.
This determination prioritizes the protection of all Lombard customers and displays our dedication to sustaining the safety document we’ve constructed since inception—zero safety incidents and 100% uptime. Posted on X.
This motion will have an effect on over $1 billion in Bitcoin-related property underneath Lombard’s administration. Solana, Ethereum, and Belash will even stop utilizing LayerZero know-how on Ethereum. Layer 2 protocols and staking protocol Swell.
This determination prioritizes the safety of all Lombard customers and displays our dedication to sustaining a safety document since inception: 0 safety incidents, 100% uptime.
— Lombard (@Lombard_Finance)Could 15, 2026
The corporate acknowledged: “With CCIP, we cannot solely profit from its inherently safe infrastructure but in addition configure extra safety layers on prime of it.”
“This contains having our safety alliance confirm transactions as an extra layer of proof,” the corporate added, noting that this permits the corporate to implement its personal switch guidelines throughout numerous blockchains.
The full market capitalization of Lombard BTC (BTC.B) and Lombard Staked BTC (LBTC) exceeds $1 billion, with $816 million attributed to its staked Bitcoin asset, LBTC. This token capabilities equally to a liquid staking token, pegged 1:1 to Bitcoin, enabling customers to make the most of this main cryptocurrency in DeFi protocols throughout a number of blockchains.
As well as to migrating to Chainlink’s CCIP, the corporate has adopted Chainlink’s Cross-Chain Token (CCT) normal to mint and burn native, cross-chain-compatible new tokens.
Earlier than the corporate determined to exit LayerZero, this interoperability agency acknowledged it. “Made a mistake” relating to the April Kelp DAO vulnerability exploit, the corporate acknowledged in its post-incident report that, due to inner configuration points, they “didn’t anticipate in any respect” this pointless threat. The corporate’s inner RPC was poisoned by North Korean hackers, ensuing within the lack of $292 million in property from the Kelp DAO infrastructure.
Since then, a number of crypto initiatives with a complete worth locked (TVL) within the billions of {dollars} have migrated from LayerZero know-how to Chainlink, together with property from the next establishments: Solv Protocol, Re, and Kelp DAO.
