Kelp protocol is preparing to migrate its oracle services to Chainlink following a massive $29 and 2 million exploit that targeted its ecosystem.
According to reporting from decrypt.co, the protocol's leadership has identified vulnerabilities within the LayerZero infrastructure as the primary cause of the recent security breach.
At the time of the incident, the protocol's assets were significantly impacted by the exploit. The breach has prompted an immediate overhaul of the project's security architecture.
Transitioning to Chainlink
In response to the loss, Kelp plans to move away from its current setup to implement Chainlink's decentralized oracle network. This move aims to stabilize price feeds and prevent similar exploits from recurring.
The protocol's team is working to ensure that the transition does not further disrupt liquidity or user access to the platform. The decision follows a period of intense scrutiny regarding the security of cross-chain messaging protocols.
While the full extent of the technical failure within the LayerZero framework is still being analyzed, the Kelp team is prioritizing the integration of more robust, battle-tested data feeds to protect remaining user funds.
