Search results for Solv Protocol
Crypto
Kraken switches cross-chain provider from LayerZero to Chainlink\'s CCIP
U.S. cryptocurrency exchange Kraken has switched its cross-chain provider from LayerZero to Chainlink\'s Cross-Chain Interoperability Protocol (CCIP), Cointelegraph reported on Thursday. Kraken plans to apply CCIP as its dedicated cross-chain infrastructure for Kraken Wrapped Bitcoin (kBTC) and all future wrapped tokens. It cited security and risk management, pointing to features such as verification, default security design, 16 independent nodes and native rate limits.
Crypto
Solv Protocol ends LayerZero support, selects Chainlink CCIP for bridge infrastructure
Solv Protocol, a Bitcoin-focused DeFi project, is switching its cross-chain infrastructure from LayerZero to Chainlink. The project is phasing out LayerZero support for SolvBTC and xSolvBTC on Corn, Berachain, Rootstock and TAC, and has selected Chainlink CCIP as its official cross-chain infrastructure. Solv said it reviewed its existing bridge after recent security incidents and concluded CCIP offers the strongest security through reinforced architecture, risk controls and pre-monitoring.
Crypto
Bitcoin DeFi Solv Protocol loses $2.7 million in hack
Bitcoin-based DeFi platform Solv Protocol suffered a hacking attack in which about $2.7 million worth of bitcoin-linked token SolvBTC was stolen, Cointelegraph reported on March 6. The project offered the hacker a 10 percent bounty and asked for the funds to be returned. It said fewer than 10 users were affected and pledged compensation for 38.05 SolvBTC. Security experts said the attack exploited a smart contract reentrancy flaw.
