Overview
- Kraken, which announced the change Thursday, will retire LayerZero and use Chainlink’s CCIP as the sole bridge for kBTC and all future Kraken Wrapped Assets.
- kBTC holders do not need to take any action during the switch, and Kraken will keep issuing the tokens and holding the backing Bitcoin on a 1:1 basis.
- The rollout covers Ethereum, Optimism, Ink and Unichain to start, with more networks planned as CCIP moves tokens using Chainlink’s Cross-Chain Token standard.
- Kraken cited ISO 27001 and SOC 2 compliance, 16 independent node operators and native rate limits as the reasons it views CCIP as a safer design than single-verifier bridges.
- The Kelp DAO hack on April 18, tied to Lazarus and enabled by a single-verifier setup that let attackers poison internal RPCs, has pushed Kelp, Solv and Re to CCIP and reoriented an estimated $3 billion toward Chainlink’s model.