#cross-chain security

[rwatimes]

Solv Protocol Moves Tokenized Bitcoin Infrastructure to Chainlink CCIP - Crypto Economy

Solv Protocol will migrate over $700 million in tokenized bitcoin from LayerZero to Chainlink's CCIP protocol following a security review.

➤ Solv Protocol is migrating over $700 million in tokenized Bitcoin from LayerZero to Chainlink's CCIP due to security concerns following the Kelp DAO exploit. ➤ This move, alongside Kelp DAO's similar migration, represents a significant shift of assets towards more robust cross-chain infrastructure. ➤ The incident highlights growing market demand for secure and reliable cross-chain solutions, with Chainlink emerging as a preferred provider.

[rwatimes]

‘Precautionary’- Wrapped Bitcoin (wBTC) tightens security after KelpDAO $293M exploit

Wrapped Bitcoin is upgrading its cross-chain security and pausing certain transfers to prevent a KelpDAO-like breach...

➤ Wrapped Bitcoin (wBTC) is enhancing its cross-chain security protocols and temporarily pausing certain transfers following the KelpDAO exploit. ➤ The upgrades are a precautionary measure against similar Decentralized Verification Network (DVN) vulnerabilities that led to a $293 million loss at KelpDAO. ➤ Despite broader DeFi outflows, wBTC has shown resilience with net inflows, highlighting its critical role and the potential systemic risk of an exploit.