Key Highlights
- Solv moves $700M BTC assets to Chainlink CCIP after repeated DeFi bridge security concerns and exploits across the industry.
- Cross-chain attacks push Solv to drop LayerZero support and adopt CCIP for safer Bitcoin-backed asset transfers.
- Industry-wide bridge hacks, including Ronin and Kelp DAO, highlight ongoing risks in DeFi interoperability systems.
Solv Protocol has moved its cross-chain infrastructure to Chainlink CCIP after rising security concerns around decentralized finance bridges. The Bitcoin-focused platform said it will shift more than $700 million in assets tied to SolvBTC and xSolvBTC away from LayerZero support.
The move comes after a series of cross-chain exploits across the industry and recent security incidents involving LayerZero-connected systems.
In an update on Thursday, the company said it will phase out LayerZero bridging across networks including Corn, Berachain, Rootstock, and TAC. It will instead use Chainlink CCIP as its main interoperability system. Solv said it made the change after reviewing security risks in cross-chain transfers, where large pools of locked assets often attract attackers targeting bridge infrastructure.
Security concerns drive infrastructure shift
Solv said cross-chain bridges remain one of the most vulnerable areas in decentralized finance. As a result, it reduced its exposure after reviewing recent industry exploits. The team said repeated attacks have exposed weaknesses in older bridge designs.
The protocol said it now sees Chainlink CCIP as a more secure alternative. It added that CCIP offers stronger decentralization and more consistent security controls. Johann Eid, Chief Business Officer at Chainlink Labs said Solv’s move reflects a broader industry shift toward standardized cross-chain security systems.
Solv CTO Will Wang said the change is aimed at improving user protection. He added that CCIP helps secure Bitcoin-backed assets across multiple blockchains. The company said it now expects more reliable and institution-focused cross-chain transfers.
Industry exploits push DeFi reassessment
The migration comes after a $292 million exploit last month involving a LayerZero-powered system at Kelp DAO. Attackers drained rsETH assets by exploiting weaknesses in the verification design. Security researchers linked the incident to coordinated groups that used advanced laundering methods.
This as well as other recent cases have highlighted risks in cross-chain systems that manage large amounts of locked funds. However, debate in the industry continues over whether the failures stemmed from design flaws or implementation errors.
Solv itself also reported a security incident earlier this year. Attackers drained $2.7 million from a Bitcoin Reserve Offering vault by exploiting a minting flaw. The protocol later reimbursed users and said it strengthened its security measures.
The company said it continues to review security risks while expanding Bitcoin-backed DeFi products. It added that its move to Chainlink CCIP aims to lower systemic risk and improve confidence in cross-chain infrastructure.
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