Kraken moves Bitcoin to Chainlink as bridge fears spread across DeFi
CryptoSlate
Kraken is migrating its wrapped Bitcoin (kBTC) to Chainlink's CCIP to enhance cross-chain security amid growing concerns over decentralized bridge vulnerabilities.Summary
Kraken has announced it will transition its wrapped Bitcoin (kBTC) and future wrapped assets to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This decision follows a broader trend in the DeFi sector where protocols are reassessing bridge security after significant exploits, such as the KelpDAO incident. By moving to CCIP, Kraken aims to standardize its cross-chain infrastructure; however, users remain subject to a complex trust stack involving Kraken's custody, smart contract security, and the risks inherent in the various DeFi ecosystems where kBTC is utilized.
(Source：CryptoSlate)