Chainlink sees over $3B in asset migration after KelpDAO hack

Chainlink (LINK) has emerged as an industry winner following the hack of KelpDAO's rsETH, according to an analysis by CryptoSlate. The report notes that after the incident, more than $3 billion in DeFi assets migrated to Chainlink's Cross-Chain Interoperability Protocol (CCIP) as their new standard for bridge infrastructure, which was followed by a rise in the price of LINK. In contrast, LayerZero (ZRO), the cross-chain bridge exploited by the hacker, has admitted to and apologized for its lax security oversight. The outlet explained that the industry is now questioning whether LayerZero can recover the trust it has lost.