Chainlink Draws $3B CCIP Migration After $292M KelpDAO Exploit

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DeFi protocols with more than $3 billion in TVL began moving cross-chain infrastructure to Chainlink CCIP after the $292 million KelpDAO exploit. Chainlink said KelpDAO, Solv Protocol, Re, and Tydro started decommissioning legacy oracles and bridge systems for CCIP. CryptoSlate data shows LINK rose 15% to $10.52, its highest level since January. LayerZero apologized on May 9 and said it should have exercised stronger oversight over how its verifier network was used.

LINK-1.22%
SOLV0.67%
ZRO0.39%
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