Solv shifts $700M tokenized Bitcoin from LayerZero to CCIP

Solv Protocol announced it will migrate infrastructure supporting more than $700 million in tokenized Bitcoin-SolvBTC and xSolvBTC-from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The protocol said it will deprecate LayerZero bridge routing for Corn, Berachain, Rootstock and TAC as it standardizes cross-chain transfers on CCIP.

The change follows an internal security review of cross-chain systems and comes amid a wave of high-value bridge exploits in decentralized finance. Solv framed the migration as a way to reduce exposure on its existing bridging stack while it completes integration and scaling work on CCIP.

Will Wang, Solv’s chief technology officer, wrote that “Security is the foundation of everything we build at Solv” and added the migration provides “the highest assurance that proven, defense-in-depth infrastructure secures all cross-chain transfers.” He added the switch will help the protocol meet market demands for reliability and institutional-grade security.

Chainlink’s CCIP verifies cross-chain transactions through multiple independent validators rather than relying on a single verifier. Johann Eid, Chainlink Labs’ chief business officer, commented that he was “proud to work with the Solv team” and described CCIP as a standardized way to transfer wrapped Bitcoin assets across chains.

The announcement alluded to recent industry breaches, including an April exploit that drained roughly $292 million from infrastructure tied to Kelp DAO. LayerZero has blamed the Lazarus Group and pointed to a single-verifier configuration used in the compromised setup; Kelp DAO has disputed parts of that account and has accused LayerZero of approving the configuration it used.

Cross-chain bridges have been frequent targets because they typically hold large pools of locked funds and depend on complex verification systems. Notable past breaches include the 2022 Ronin bridge exploit and other major attacks that investigators linked to state-sponsored hacking groups.

Solv did not provide a detailed timeline for completing the migration. The protocol wrote it will reduce LayerZero routing on the affected chains while finishing its CCIP integration and scaling work. Launched in 2021 on Ethereum, Solv Protocol issues SolvBTC, a wrapped Bitcoin token that users can deploy across multiple blockchains to earn yield.