BitGo Abandons LayerZero for Chainlink Amid DeFi Security Concerns

BitGo is migrating $7.3 billion worth of Wrapped Bitcoin (WBTC) cross-chain infrastructure from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This move comes after a series of security incidents, including the $292 million theft from Kelp's cross-chain bridge in 2024.

The total funds announced to migrate from LayerZero to Chainlink have reached $14.6 billion, with other projects such as Mantle, Kraken, and Lombard also making the switch.

BitGo stated that it will use Chainlink's cross-chain token standard to unify WBTC deployment and default to using CCIP for assets issued in the future. This architecture allows BitGo to retain control over token contracts and set rate limits and other controls to manage cross-chain transfers.