WBTC Cross-Chain Provider Shifts to Chainlink, Migrating $7.3B in Assets

BitGo switches WBTC infrastructure from LayerZero to Chainlink CCIP, moving $7.3B. This follows a $292M Kelp DAO exploit, adding to $14.6B total shifting to CCIP.

Woofun AI reports that BitGo will transition the exclusive cross-chain provider for wrapped bitcoin (WBTC) from LayerZero to Chainlink CCIP, encompassing a migration of $7.3 billion in assets. This operational shift follows the $292 million attack on the Kelp DAO LayerZero bridge, prompting similar migrations by Mantle, Lombard, Solv Protocol, Virtuals, Re, and Kraken. With WBTC’s current market value at approximately $7.4 billion and prior announced migrations totaling $7.24 billion, the aggregate value shifting to CCIP infrastructure reaches roughly $14.6 billion. BitGo confirmed it will utilize the Chainlink cross-chain token standard to unify WBTC deployment and designate CCIP as the default solution for future issued assets.