BitGo Abandons LayerZero for Chainlink CCIP Amid Security Concerns
BitGo is replacing LayerZero with Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the exclusive cross-chain standard for Wrapped Bitcoin (WBTC). The move follows a $292 million exploit of KelpDAO's LayerZero-powered rsETH bridge in August, which exposed a structural vulnerability in LayerZero's configurable security model.
WBTC has a market capitalization of approximately $7.4 billion, making it the largest wrapped Bitcoin token and the biggest single asset yet to announce a switch from LayerZero to Chainlink. The company said CCIP will serve as the default cross-chain infrastructure for all future assets BitGo issues.
BitGo CEO Mike Belshe stated that security has always been central to how the company operates, and Chainlink's CCIP offers a proven, institutionally adopted interoperability standard that aligns with the controls, reliability, and risk management clients expect from BitGo.