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Solv switches to Chainlink CCIP to secure $700M in wrapped Bitcoin assets amid bridge hack concerns

Market News
08 May 2026, 08:47 WIB
Crypto Briefing
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Bullish
Solv switches to Chainlink CCIP to secure $700M in wrapped Bitcoin assets amid bridge hack concerns

Solv Protocol is migrating its cross-chain infrastructure from LayerZero to Chainlink CCIP to enhance security for over $700 million in wrapped Bitcoin assets. This move follows multiple bridge-related hacks in the crypto space, prompting Solv to prioritize stronger security and reduce systemic risk. Chainlink CCIP offers decentralized architecture and robust security guarantees, making it the default cross-chain communication layer for Solv's Bitcoin DeFi products. The transition also involves deprecating LayerZero support on several networks, reflecting a broader trend of DeFi protocols adopting Chainlink CCIP for institutional-grade security.

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Analyst Insights
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Chainlink (LINK) drops 3.1% in an hour, hitting $10.33 amid $2.28M long liquidations

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