Solv Protocol to migrate $700 million assets to Chainlink

May 07, 2026

Reported by AI

Solv Protocol is shifting more than $700 million in tokenized Bitcoin from LayerZero to Chainlink's CCIP. The move follows Kelp DAO's similar decision after a major exploit.

Solv Protocol has announced it will move its SolvBTC and xSolvBTC assets, worth over $700 million, to Chainlink’s Cross-Chain Interoperability Protocol. Support for LayerZero bridges will be deprecated on Corn, Berachain, Rootstock and TAC. The change follows an updated security review and recent cross-chain hacks across the sector.

Dramatic courtroom scene depicting lawyers arguing over frozen Ethereum coins from Kelp DAO hack amid terrorism claims.

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May 04, 2026 Reported by AI Image generated by AI

A federal case is unfolding over $71 million in frozen cryptocurrency following the Kelp DAO exploit, as Aave seeks to release the funds for DeFi recovery. Victims of decades-old North Korean terrorist acts have filed a restraining notice against Arbitrum DAO, claiming the 30,765 ETH as DPRK-linked property. The dispute pits recent hack victims against long-standing terrorism judgment holders.

Kelp blames LayerZero for approving $292 million hack setup

Kelp DAO has accused LayerZero personnel of approving the 1-of-1 verifier setup blamed for a $292 million exploit on its rsETH bridge. The protocol plans to migrate from LayerZero's OFT standard to Chainlink's CCIP. The hack has been linked to North Korea's Lazarus Group.

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LayerZero has acknowledged it made a mistake by allowing its own verifier network to secure high-value assets in a vulnerable setup. The admission comes weeks after a $292 million hack on Kelp DAO that the company had initially blamed on the developer. The firm says its core protocol remained unaffected.

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May 05, 2026 15:01

Solv Protocol to migrate $700 million assets to Chainlink

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