Chainlink

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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.

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.

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