LayerZero Loses Dozen Partnerships Amid Woes

LayerZero has lost over a dozen partnerships this year after its ZRO token shed nearly a third of its value.

The blockchain interoperability project's troubles began in April when hackers from the Lazarus Group poisoned its internal RPCs, allowing them to bypass security checks and siphon off funds.

LayerZero co-founder and CEO Bryan Pellegrino acknowledged the mistake, saying 'We made a mistake by allowing our DVN to act as a 1/1 DVN for high-value transactions.'

Since then, several prominent partners have exited the platform, including Ethereum node service provider Nethermind, Kelp DAO, and BitGo, which took $7.7 billion of wrapped BTC out of LayerZero's ecosystem in August.