Kraken to replace LayerZero with Chainlink to bridge assets across blockchains

60-second summary

Kraken is replacing LayerZero with Chainlink to bridge assets across blockchains, a move that will see over $3 billion in total value locked migrate. This decision comes after a $292 million LayerZero-powered bridge exploit involving Kelp. The switch aims to improve security and reduce risks associated with cross-chain transactions. Market confidence in decentralized finance is at stake.