LayerZero loses $2B TVL to Chainlink CCIP after exploit
Three protocols with $2.3B combined just walked — the first measurable TVL migration since LayerZero admitted a Lazarus-linked RPC exploit and a 1/1 DVN misconfiguration.
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Three protocols with $2.3B combined just walked — the first measurable TVL migration since LayerZero admitted a Lazarus-linked RPC exploit and a 1/1 DVN misconfiguration.
Four products including Kraken Bitcoin have already swapped LayerZero cross-chain rails in the wake of the Kelp DAO attack, and a $2.57B combined TVL is the real signal of how much weight is moving.
Four protocols with over $3B in TVL have moved cross-chain rails to Chainlink's CCIP after a $292M exploit exposed how thin LayerZero's verifier configurations can run.
Whales pulled billions within hours of the exploit, instantly draining liquidity across ETH, USDT and USDC markets — a bank-run-style unwind of the largest DeFi lending venue.
Aave V3 deployed on X Layer roughly a week ago, and the chain's TVL has tripled since — the strongest 30-day inflow among major L2s and a rare triple-digit gain outside a launch window.
Pi launched in 2019 as a phone-based mining app, sat in closed beta for six years, then opened Mainnet to migrants in early 2024. The token now trades on a handful of exchanges, but structural concerns remain.
The bitcoin miner pivoting to AI compute closed its first day at a $2.8B valuation, the largest direct listing on Nasdaq since 2021, and gave creditors of the bankrupt lender a rare liquid path out.
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