Solv Protocol moves $700M in tokenized bitcoin to Chainlink's CCIP after LayerZero security concerns

Solv Protocol is migrating over $700 million in tokenized bitcoin assets from the LayerZero bridge to Chainlink's Cross-Chain Interoperability Protocol (CCIP) following a security review and recent cross-chain hacks. This move follows Kelp DAO's similar shift after a $292 million exploit on its LayerZero bridge, with both migrations reflecting a broader industry trend toward more secure and decentralized cross-chain infrastructure. Chainlink's CCIP offers enhanced security and decentralization, addressing vulnerabilities linked to LayerZero's single-verifier setup. Together, Solv and Kelp's migrations represent nearly $1 billion in assets moving to Chainlink, signaling a significant 'flight to quality' in the DeFi space.