Solv Protocol moves $700M in tokenized bitcoin from LayerZero to Chainlink CCIP in post-hack flight to quality!

Solv Protocol is migrating more than $700 million in tokenized bitcoin — SolvBTC and xSolvBTC — from LayerZero's bridge to Chainlink's Cross-Chain Interoperability Protocol (CCIP), citing an updated security review and a string of recent cross-chain exploits. The decision follows Kelp DAO's own exit from LayerZero after an April hack drained 116,500 rsETH, worth roughly $292 million, from its LayerZero-powered bridge.

The two migrations combined shift nearly $1 billion in assets to Chainlink's infrastructure. Kelp and LayerZero have traded public blame over the exploit's root cause: LayerZero says Kelp used a single-verifier configuration against its recommendations, while Kelp says LayerZero personnel reviewed and approved that same setup. LayerZero has since said it will no longer sign messages for applications running the 1-of-1 model.

Chainlink CBO Johann Eid told CoinDesk there…