Illustration of Kraken switching wrapped Bitcoin to Chainlink after KelpDAO exploit
Illustration of Kraken switching wrapped Bitcoin to Chainlink after KelpDAO exploit
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Kraken moves wrapped bitcoin to chainlink after kelp dao exploit

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Kraken announced it is switching its wrapped Bitcoin token kBTC to Chainlink's Cross-Chain Interoperability Protocol. The move follows the KelpDAO exploit that resulted in a $292 million loss and heightened concerns over bridge security in DeFi. The exchange will make CCIP the exclusive cross-chain infrastructure for kBTC and future wrapped assets.

Kraken is deprecating its prior cross-chain provider and routing kBTC through Chainlink CCIP. The 1:1 Bitcoin-backed token allows BTC to operate on networks including Ethereum, Unichain, OP Mainnet, and Ink, with reserves held at Kraken Financial, a Wyoming-chartered depository institution.

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Illustration depicting DTCC integrating Chainlink for their tokenized collateral platform using blockchain technology.
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DTCC to integrate Chainlink for tokenized collateral platform

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The Depository Trust & Clearing Corporation will use Chainlink technology to power its blockchain-based Collateral AppChain platform. The integration supports 24/7 automated collateral management and is set for a Q4 2026 launch. It builds on prior collaboration between the two firms.

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.

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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.

Kraken has started offering CFTC-regulated perpetual futures to eligible US customers through its Kraken Pro platform. The contracts are listed on Bitnomial, the exchange acquired by Kraken's parent company Payward.

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Taiko, an Ethereum layer-2 network, halted block production after an attacker exploited its bridge to steal about $1.7 million. The team urged users to withdraw funds from all bridges on the network.

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.

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Payward, the parent company of crypto exchange Kraken, has applied for a national trust company charter with the U.S. Office of the Comptroller of the Currency. The filing seeks to expand regulated custody services for digital assets. It builds on the firm's existing Wyoming banking subsidiary.

 

 

 

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