🚨$2 Billion Exodus! LayerZero Faces Trust Crisis
LayerZero's troubles aren't over. Since the April incident that shook the DeFi space, market confidence has clearly dipped. Attackers exploited the Kelp-utilized #LayerZero cross-chain bridge to steal $293 million, directly ripping a hole in over $300 million in funds 💥
What's more critical is that a lot of protocols are pulling out. Projects like KelpDAO and SolvProtocol, with a total TVL exceeding $2 billion, have started migrating to Chainlink CCIP. The market believes that, compared to the controversy-ridden LayerZero, #CCIP currently appears safer.
LayerZero later admitted that its internal RPC nodes were breached by the Lazarus organization, and a DVN configuration error caused a single point of failure in the protocol, further eroding market confidence 📉 Bridge trading volume has now plummeted to a historical low of $91 million 📉#贝莱德拟推面向稳定币用户的货币市场基金
Although core assets like #USDe and #WBTC still temporarily remain in the ecosystem, the trend in the cross-chain arena is starting to shift towards CCIP ⚡
LayerZero's troubles aren't over. Since the April incident that shook the DeFi space, market confidence has clearly dipped. Attackers exploited the Kelp-utilized #LayerZero cross-chain bridge to steal $293 million, directly ripping a hole in over $300 million in funds 💥
What's more critical is that a lot of protocols are pulling out. Projects like KelpDAO and SolvProtocol, with a total TVL exceeding $2 billion, have started migrating to Chainlink CCIP. The market believes that, compared to the controversy-ridden LayerZero, #CCIP currently appears safer.
LayerZero later admitted that its internal RPC nodes were breached by the Lazarus organization, and a DVN configuration error caused a single point of failure in the protocol, further eroding market confidence 📉 Bridge trading volume has now plummeted to a historical low of $91 million 📉#贝莱德拟推面向稳定币用户的货币市场基金
Although core assets like #USDe and #WBTC still temporarily remain in the ecosystem, the trend in the cross-chain arena is starting to shift towards CCIP ⚡