CoinDesk
DeFi protocol Lombard is migrating over $1 billion in bitcoin-backed assets from LayerZero to Chainlink's CCIP bridge, becoming the latest firm in a growing industry flight triggered by the $292 million Kelp DAO exploit. Lombard issues two bitcoin-backed tokens, LBTC and BTC.b, and said the migration followed an internal security review conducted in the wake of the April attack on Kelp's LayerZero-powered bridge.
The broader exodus now totals roughly $4 billion in total value locked, with Kelp DAO, Solv Protocol, Re, and crypto exchange Kraken all having made or announced similar moves to Chainlink CCIP. Lombard's migration spans multiple chains including Solana, Etherlink, Berachain, Corn, and TAC, while also ending LayerZero usage on Morph and Swell.
Chainlink Labs CBO Johann Eid framed the trend bluntly: "We are witnessing a continued flight to safety across the industry." Lombard…
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