TLDR Tech / Crypto
Over $7.2B Migrates From LayerZero to Chainlink CCIP
The $292M Kelp bridge exploit in May 2026 exposed configuration vulnerabilities in LayerZero's OFT standard, triggering a $7.2B migration to Chainlink CCIP, with Mantle's Super Portal (co-developed with Bybit) contributing $2.5B during a July 9-15 window covering MNT transfers from Ethereum and Solana. Kelp ($1.5B), Lombard ($1B+), Solv Protocol ($700M), Virtuals Protocol ($700M), Re ($475M), and Kraken ($330M) are among the largest migrators, spanning DeFi protocols and centralized exchanges. The preference for CCIP centers on the CCT standard's direct pool and setting controls for token issuers, combined with Chainlink's decentralized oracle network as the security layer for cross-chain transfers. The participant mix, crossing protocol-layer DeFi and CeFi, indicates a preference shift among high-TVL cross-chain operators away from OFT toward CCT as the dominant bridging standard for large asset volumes.
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