LayerZero Ends Support for 14 Low-Activity Blockchain Networks Amid Security Concerns
LayerZero has announced it will end off-chain support for 14 low-activity blockchain networks, including Arbitrum Nova, by September. This decision involves deprecating its decentralized verifier network and Executors, which facilitate cross-chain communication.
The move follows security concerns after the $292M KelpDAO hack, which exploited LayerZero's verification setup. Since the hack, many projects have migrated from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), prompting LayerZero to reduce its exposure and focus on operational efficiency and security.
The affected networks include those with low activity, which may leave assets like USDT and USDC stranded if not moved in time. This is a significant development for the crypto ecosystem, particularly for projects relying on cross-chain communication.