About $2B in TVL set to move from LayerZero to Chainlink CCIP

ChainCatcher reports that analyst Tom Wan has flagged a wave of protocol migrations away from LayerZero following the project's apology, with roughly $2 billion in combined TVL now slated to shift to Chainlink's Cross-Chain Interoperability Protocol (CCIP). Projects citing migrations include KelpDAO ($1.5 billion), SolvProtocol ($600 million), and re ($200 million). Several major assets remain on LayerZero's OFT standard, including USDe/sUSDe (Ethena), weETH (Etherfi), USDT0 (Tether), thBILL (Theo), and WBTC (BitGo). Timing and execution of the migrations will depend on official updates from each project. LayerZero previously issued a formal apology for what it described as poor communication over the past three weeks related to a security incident. In its statement, the team said its internal RPC was compromised by the Lazarus Group and acknowledged it mistakenly allowed LayerZero Labs' DVN to operate as a 1/1 validation node for high-value transactions, introducing a single point of failure.