Verify a decision

{"actor":"system:backfill","investigation_id":"2a4f1e03-ca33-4c6a-8aca-965a36700865","kind":"publish","page_slug":"bryan-pellegrino","published_at":"2026-09-26T17:09:37.572Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bryan Pellegrino","sections":[{"content":"Bryan Pellegrino co-founded LayerZero Labs in February 2021 alongside Caleb Banister and Ryan Zarick. Before entering the blockchain space, Pellegrino was a professional poker player and an early-career entrepreneur who co-founded Coder Den and served as CEO of fantasy-sports platform BuzzDraft. He later co-founded Rho AI (also known as Rho Impact), a machine learning firm, before pivoting to blockchain infrastructure. He holds a degree in Computer Science from the University of New Hampshire. Pellegrino has described his poker background as formative in his approach to risk assessment and capital management. LayerZero Labs is incorporated in Canada and headquartered in Vancouver, British Columbia.","heading":"Background and Career","severity":"low","sources":[{"credibility":2,"name":"LayerZero's Bryan Pellegrino: From Poker to Protocols — Sequoia Capital","type":"other","url":"https://sequoiacap.com/article/bryan-pellegrino-spotlight-layerzero"},{"credibility":2,"name":"Bryan Pellegrino — Crunchbase Person Profile","type":"other","url":"https://www.crunchbase.com/person/bryan-pellegrino"},{"credibility":3,"name":"All You Need To Know About Bryan Pellegrino, The CEO of LayerZero — UseTheBitcoin","type":"news_article","url":"https://usethebitcoin.com/crypto-personalities/all-you-need-to-know-about-bryan-pellegrino-the-ceo-of-layerzero/"}]},{"content":"LayerZero Labs raised approximately $263 million across two major rounds. In March 2022, the company closed a $135 million Series A+ round co-led by a16z Crypto, Sequoia Capital, and FTX Ventures at a $1 billion valuation; additional backers included Coinbase Ventures, PayPal Ventures, Tiger Global, and Uniswap Labs. In April 2023, the company raised $120 million in a Series B round at a $3 billion valuation from 33 investors including a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, and OpenSea. LayerZero is an omnichain interoperability protocol that enables cross-chain messaging. Its security model centers on a Decentralized Verifier Network (DVN), a configurable set of independent verifiers that validate cross-chain messages. The configurable nature of the DVN — which allows integrators to set their own verifier threshold, including down to a single verifier — became the subject of significant scrutiny following the April 2026 KelpDAO exploit.","heading":"LayerZero Labs: Funding and Protocol Overview","severity":"low","sources":[{"credibility":1,"name":"A16z, FTX and Sequoia Lead $135M Round for LayerZero at $1B Valuation — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2022/03/30/a16z-ftx-and-sequoia-lead-155m-round-for-layerzero-at-1b-valuation"},{"credibility":1,"name":"LayerZero Labs Closes $120 Million Series B Funding Round — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/layerzero-labs-closes-120-million-series-b-funding-round-raising-its-valuation-to-3-billion-301789138.html"},{"credibility":1,"name":"Crypto Protocol LayerZero Raises $120M at $3B Valuation — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2023/04/04/crypto-protocol-layerzero-raises-120m-series-b-at-3b-valuation"}]},{"content":"In May 2024, LayerZero introduced an anti-sybil process ahead of the ZRO token airdrop. Users who self-reported sybil activity by May 17, 2024 would receive 15% of their intended allocation; those who did not self-report risked receiving nothing. Pellegrino announced that up to 100,000 addresses self-reported, and LayerZero ultimately identified approximately 803,093 addresses as potential sybils through analysis conducted with Chaos Labs and Nansen AI. The approach generated controversy, including criticism that the protocol labeled some legitimate applications — such as cross-chain bridging tool Merkly — as sybil-farming applications. Pellegrino defended the process as designed to ensure tokens reached authentic users. No regulatory action arose from the airdrop process, and the controversy was primarily reputational in nature.","heading":"ZRO Airdrop and Sybil Controversy (2024)","severity":"low","sources":[{"credibility":2,"name":"Why LayerZero's New Anti-Sybil Policy Is Getting Both Backlash and Praise — Unchained","type":"news_article","url":"https://unchainedcrypto.com/why-layerzeros-new-anti-sybil-policy-is-getting-both-backlash-and-praise/"},{"credibility":2,"name":"LayerZero Labs CEO says up to 100,000 addresses have self-reported as airdrop sybils — The Block","type":"news_article","url":"https://www.theblock.co/post/294230/layerzero-labs-ceo-says-up-to-100000-addresses-have-self-reported-as-airdrop-sybils"},{"credibility":2,"name":"LayerZero warns sybil airdrop farmers to self-report or 'receive nothing' — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/layerzero-warns-sybil-airdrop-farmers/"}]},{"content":"On April 18, 2026, an attacker exploited the rsETH bridge operated by KelpDAO using LayerZero's cross-chain messaging infrastructure, causing approximately $292 million in losses (116,500 rsETH). LayerZero and independent security firms including Mandiant and CrowdStrike attributed the attack to TraderTraitor (also known as UNC4899), a threat actor linked to North Korea's Lazarus Group. According to LayerZero's incident report, the breach began on March 6, 2026, when a LayerZero developer was socially engineered into installing malware, granting the attacker access to LayerZero's internal RPC infrastructure. The attacker subsequently poisoned those internal RPC nodes and launched a distributed denial-of-service attack against an external RPC provider, ensuring LayerZero's DVN relied exclusively on the compromised internal nodes. This allowed the attacker to cause the single verifier to attest to a fabricated cross-chain message. It is important to note that KelpDAO's own systems were not independently compromised — the infrastructure failure originated within LayerZero's operational environment. Of the stolen assets, 89,567 rsETH was deposited on Aave as collateral to borrow approximately $190 million in WETH. The exploit triggered approximately $13–14 billion in DeFi TVL withdrawals within 48 hours, representing the largest single exploit of 2026.","heading":"April 2026 KelpDAO rsETH Bridge Exploit","severity":"high","sources":[{"credibility":1,"name":"Kelp DAO exploited for $292 million with wrapped ether stranded across 20 chains — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/04/19/2026-s-biggest-crypto-exploit-kelp-dao-hit-for-usd292-million-with-wrapped-ether-stranded-across-20-chains"},{"credibility":2,"name":"Inside the KelpDAO Bridge Exploit — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/kelpdao-bridge-exploit-april-2026/"},{"credibility":2,"name":"The KelpDAO rsETH Exploit: $292M Minted From a 1-of-1 Bridge, and Who Actually Pays — DeFi Prime","type":"news_article","url":"https://defiprime.com/kelpdao-rseth-exploit"},{"credibility":2,"name":"$292 Million Lost, Zero Bugs Found: Lessons From the rsETH Bridge Exploit — OpenZeppelin","type":"research","url":"https://www.openzeppelin.com/news/lessons-from-kelpdao-hack"},{"credibility":2,"name":"LayerZero Labs KelpDAO Incident Report — LayerZero","type":"official","url":"https://layerzero.network/blog/layerzero-labs-kelpdao-incident-report"}]},{"content":"In May 2026, LayerZero publicly acknowledged responsibility for a specific aspect of the exploit. In a post-incident statement, the company stated: 'We made a mistake by allowing our DVN to act as a 1/1 DVN for high-value transactions' and 'We didn't police what our DVN was securing, which created a risk we simply didn't see.' This represented a material reversal from LayerZero's initial April 19 incident statement, which had characterized Kelp's single-verifier setup as directly contradicting a multi-DVN redundancy model that LayerZero claimed to have 'consistently recommended to all integration partners.' The Block reported this public apology in May 2026. Following the admission, LayerZero announced it would no longer allow its DVN to service 1-of-1 configurations and was migrating default settings to require at least five verifiers, with a floor of three on chains where fewer DVNs are available. The existence of this post-exploit admission is directly relevant to the subsequent civil litigation, as Evercrest's filing alleges that the initial blame-shifting statements were defamatory.","heading":"LayerZero's Public Admission of Fault and Apology","severity":"high","sources":[{"credibility":2,"name":"LayerZero issues public apology for Kelp DAO exploit response, admits fault in single-verifier setup — The Block","type":"news_article","url":"https://www.theblock.co/post/400629/layerzero-issues-public-apology-for-kelp-dao-exploit-response-admits-fault-in-single-verifier-setup"},{"credibility":1,"name":"LayerZero says it 'made a mistake' in $292 Million Kelp exploit — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/05/09/layerzero-says-it-made-a-mistake-in-usd292-million-kelp-exploit"},{"credibility":2,"name":"LayerZero Apologizes For Kelp DAO Exploit Response, Admits Fault In Single-Verifier Setup — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2026/05/278326-layerzero-apologizes-for-kelp-dao-exploit-response-admits-fault-in-single-verifier-setup/"}]},{"content":"On September 25, 2026, Evercrest Technologies — the developer behind KelpDAO — filed a notice of civil claim in the Supreme Court of British Columbia. The defendants named are LayerZero Labs Ltd., LayerZero Labs Canada Inc., and Bryan Pellegrino personally. The claim alleges negligent misrepresentation, negligence, and defamation, and seeks aggravated and punitive damages. This is a civil claim at the notice-of-claim stage; no court has made any finding of liability against Pellegrino or LayerZero Labs. The parties have not yet filed formal defenses and no trial date has been set as of the date of this report.\n\nThe core factual dispute alleged by the plaintiff is that LayerZero endorsed the 1-of-1 DVN configuration in writing on at least three occasions: in February 2024 (allegedly describing the default configuration as 'good' with 'no problem'), in March 2024 (allegedly directing use of the 1-of-1 setup), and in January 2025 (allegedly stating that a compromised verifier could only fail to verify messages correctly). Evercrest also alleges LayerZero instructed KelpDAO to mirror another bridge's single-verifier setup and failed to warn KelpDAO about security risks it had disclosed to at least one other developer.\n\nThe defamation claims target Pellegrino's personal posts on X (formerly Twitter) and Telegram following the April 19, 2026 exploit, as well as LayerZero's April 19 blog post, which stated that KelpDAO's setup 'directly contradicts the multi-DVN redundancy model' that LayerZero had 'consistently recommended.' Evercrest alleges these statements were false and damaging in light of LayerZero's prior written endorsements of that same setup.\n\nPellegrino denied the allegations in a post on X, writing: 'The claim continues to be meritless, will meet them in Vancouver and defend myself accordingly.' LayerZero's broader position is that KelpDAO independently downgraded from a multi-verifier default to a single-verifier configuration against its recommendations. No formal response to the civil claim had been filed as of September 26, 2026.","heading":"Civil Lawsuit: Evercrest Technologies v. LayerZero Labs and Pellegrino","severity":"critical","sources":[{"credibility":1,"name":"KelpDAO sues LayerZero and CEO over $292M rsETH bridge exploit — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/09/25/kelpdao-sues-layerzero-for-the-largest-exploit-2026-has-seen-so-far"},{"credibility":2,"name":"KelpDAO Developer Sues LayerZero Over $292M Bridge Exploit — Decrypt","type":"news_article","url":"https://decrypt.co/379288/kelpdao-developer-sues-layerzero-over-292m-bridge-exploit"},{"credibility":2,"name":"Kelp DAO Sues LayerZero and CEO Bryan Pellegrino Over $292 Million rsETH Bridge Exploit — Unchained","type":"news_article","url":"https://unchainedcrypto.com/kelp-dao-sues-layerzero-and-ceo-bryan-pellegrino-over-292-million-rseth-bridge-exploit/"},{"credibility":2,"name":"KelpDAO sues LayerZero, claims it endorsed setup used in $292 million rsETH exploit — The Block","type":"news_article","url":"https://www.theblock.co/news/regulation/2026-09-25-kelpdao-sues-layerzero-claims-it-endorsed-setup-used-in-292-million-rseth-exploit-416361"},{"credibility":2,"name":"LayerZero faces a negligence and defamation suit over the $292 million KelpDAO hack — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/layerzero-negligence-defamation-suit-kelpdao/"},{"credibility":2,"name":"Nearly $15B is moving off LayerZero, now a $292M lawsuit puts its security model on trial — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/nearly-15-billion-is-moving-off-layerzero-now-a-292-million-lawsuit-puts-its-security-model-on-trial/"}]},{"content":"Following the April 2026 exploit and the ensuing blame dispute, LayerZero experienced a significant loss of institutional integrators. Multiple major protocols announced migrations from LayerZero to Chainlink's CCIP cross-chain infrastructure, including Kelp's rsETH (moving to Chainlink), Solv Protocol (approximately $700 million in tokenized bitcoin), Kraken's kBTC and future wrapped assets, BitGo's WBTC (approximately $7.4 billion), Mantle's Super Portal (approximately $2.5 billion), Lombard (over $1 billion in bitcoin-backed assets), and Virtuals Protocol (approximately $700 million). The Wyoming Stable Token Commission additionally signed an exclusive multi-year infrastructure agreement with Chainlink. CoinDesk reported that over $7.2 billion had migrated from LayerZero to Chainlink CCIP as of July 9, 2026, with total announced migrations reaching approximately $15 billion by mid-August 2026 according to crypto.news. LayerZero's ZRO token declined more than 20% in the immediate aftermath of the exploit, with CoinMarketCap reporting a 5.03% drop within 25 hours of the incident becoming public, and the token's market capitalization fell to approximately $302 million by mid-2026. The Nethermind DVN operator also exited LayerZero and joined Chainlink.","heading":"Reputational and Market Impact","severity":"high","sources":[{"credibility":1,"name":"Over $7.2 billion have migrated from LayerZero to Chainlink CCIP as Mantle joins exodus — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/07/09/over-usd7-2-billion-have-migrated-from-layerzero-to-chainlink-ccip-as-mantle-joins-exodus"},{"credibility":1,"name":"The $700 million migration: Why Solv Protocol is ditching LayerZero for Chainlink — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/05/07/solv-drops-layerzero-for-chainlink-ccip-in-usd700-million-tokenized-bitcoin-migration"},{"credibility":1,"name":"Kraken to replace LayerZero with Chainlink for kBTC, future wrapped assets — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/05/14/kraken-to-replace-layerzero-with-chainlink-to-bridge-assets-across-blockchains"},{"credibility":2,"name":"LayerZero loses $2B in protocol TVL after exploit fallout — AMBCrypto","type":"news_article","url":"https://ambcrypto.com/?p=597001"},{"credibility":2,"name":"LayerZero Crypto Migration Sparks $15 Billion Shift to Chainlink — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/08/20/layerzero-crypto-migration-shift/"}]}],"sources_used":[{"credibility":1,"name":"KelpDAO sues LayerZero and CEO over $292M rsETH bridge exploit — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/09/25/kelpdao-sues-layerzero-for-the-largest-exploit-2026-has-seen-so-far"},{"credibility":1,"name":"Kelp DAO exploited for $292 million — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/04/19/2026-s-biggest-crypto-exploit-kelp-dao-hit-for-usd292-million-with-wrapped-ether-stranded-across-20-chains"},{"credibility":1,"name":"Kelp says LayerZero approved setup it blamed for $292 million bridge hack — CoinDesk","type":"news_article","url":"https://www.coindesk.com/web3/2026/05/05/kelp-claims-that-layerzero-approved-the-setup-it-blamed-for-usd292-million-bridge-hack"},{"credibility":1,"name":"LayerZero says it 'made a mistake' in $292 Million Kelp exploit — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/05/09/layerzero-says-it-made-a-mistake-in-usd292-million-kelp-exploit"},{"credibility":1,"name":"Kelp DAO hits back at LayerZero for trying to shift the blame — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/04/20/kelp-dao-claims-layerzero-s-default-settings-are-what-actually-caused-the-usd290-million-disaster"},{"credibility":1,"name":"Over $7.2 billion have migrated from LayerZero to Chainlink CCIP — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/07/09/over-usd7-2-billion-have-migrated-from-layerzero-to-chainlink-ccip-as-mantle-joins-exodus"},{"credibility":1,"name":"A16z, FTX and Sequoia Lead $135M Round for LayerZero — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2022/03/30/a16z-ftx-and-sequoia-lead-155m-round-for-layerzero-at-1b-valuation"},{"credibility":1,"name":"LayerZero Labs Closes $120 Million Series B — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/layerzero-labs-closes-120-million-series-b-funding-round-raising-its-valuation-to-3-billion-301789138.html"},{"credibility":2,"name":"KelpDAO Developer Sues LayerZero Over $292M Bridge Exploit — Decrypt","type":"news_article","url":"https://decrypt.co/379288/kelpdao-developer-sues-layerzero-over-292m-bridge-exploit"},{"credibility":2,"name":"Kelp DAO Sues LayerZero and CEO Bryan Pellegrino — Unchained","type":"news_article","url":"https://unchainedcrypto.com/kelp-dao-sues-layerzero-and-ceo-bryan-pellegrino-over-292-million-rseth-bridge-exploit/"},{"credibility":2,"name":"KelpDAO sues LayerZero, claims it endorsed setup — The Block","type":"news_article","url":"https://www.theblock.co/news/regulation/2026-09-25-kelpdao-sues-layerzero-claims-it-endorsed-setup-used-in-292-million-rseth-exploit-416361"},{"credibility":2,"name":"Nearly $15B is moving off LayerZero — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/nearly-15-billion-is-moving-off-layerzero-now-a-292-million-lawsuit-puts-its-security-model-on-trial/"},{"credibility":2,"name":"LayerZero issues public apology, admits fault in single-verifier setup — The Block","type":"news_article","url":"https://www.theblock.co/post/400629/layerzero-issues-public-apology-for-kelp-dao-exploit-response-admits-fault-in-single-verifier-setup"},{"credibility":2,"name":"Inside the KelpDAO Bridge Exploit — Chainalysis","type":"research","url":"https://www.chainalysis.com/blog/kelpdao-bridge-exploit-april-2026/"},{"credibility":2,"name":"$292 Million Lost, Zero Bugs Found — OpenZeppelin","type":"research","url":"https://www.openzeppelin.com/news/lessons-from-kelpdao-hack"},{"credibility":2,"name":"LayerZero Labs KelpDAO Incident Report — LayerZero","type":"official","url":"https://layerzero.network/blog/layerzero-labs-kelpdao-incident-report"},{"credibility":2,"name":"LayerZero's Bryan Pellegrino: From Poker to Protocols — Sequoia Capital","type":"other","url":"https://sequoiacap.com/article/bryan-pellegrino-spotlight-layerzero"},{"credibility":2,"name":"LayerZero Labs CEO says up to 100,000 addresses have self-reported as airdrop sybils — The Block","type":"news_article","url":"https://www.theblock.co/post/294230/layerzero-labs-ceo-says-up-to-100000-addresses-have-self-reported-as-airdrop-sybils"},{"credibility":1,"name":"The $700 million migration: Solv Protocol ditches LayerZero for Chainlink — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/05/07/solv-drops-layerzero-for-chainlink-ccip-in-usd700-million-tokenized-bitcoin-migration"},{"credibility":1,"name":"Kraken to replace LayerZero with Chainlink for kBTC — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/05/14/kraken-to-replace-layerzero-with-chainlink-to-bridge-assets-across-blockchains"}],"summary":"Bryan Pellegrino is the co-founder and CEO of LayerZero Labs, a cross-chain interoperability protocol that raised $263 million at a $3 billion valuation from investors including Sequoia Capital, a16z, and others. In April 2026, the largest single DeFi exploit of the year occurred on a LayerZero-powered bridge used by KelpDAO, resulting in approximately $292 million in losses; LayerZero subsequently issued a public apology and admitted fault in allowing a single-verifier configuration. On September 25, 2026, Evercrest Technologies (the developer behind KelpDAO) filed a civil claim in the Supreme Court of British Columbia naming Pellegrino personally as a defendant alongside LayerZero Labs, alleging negligent misrepresentation and defamation; the lawsuit is at the notice-of-claim stage and no court has made any finding of liability.","timeline":[{"date":"2021-02-01","event":"Bryan Pellegrino co-founds LayerZero Labs with Caleb Banister and Ryan Zarick.","source":"Crunchbase / Sequoia Capital","source_url":"https://sequoiacap.com/article/bryan-pellegrino-spotlight-layerzero"},{"date":"2022-03-30","event":"LayerZero Labs closes a $135 million Series A+ round co-led by a16z, Sequoia, and FTX Ventures at a $1 billion valuation.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2022/03/30/a16z-ftx-and-sequoia-lead-155m-round-for-layerzero-at-1b-valuation"},{"date":"2023-04-04","event":"LayerZero Labs closes a $120 million Series B round at a $3 billion valuation.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2023/04/04/crypto-protocol-layerzero-raises-120m-series-b-at-3b-valuation"},{"date":"2024-02-01","event":"According to Evercrest's civil claim, LayerZero reviewed and described KelpDAO's 1-of-1 DVN configuration as 'good' with 'no problem.' This date is drawn from the civil filing and has not been independently verified; it is disputed by LayerZero.","source":"Decrypt / Unchained (reporting on civil claim)","source_url":"https://decrypt.co/379288/kelpdao-developer-sues-layerzero-over-292m-bridge-exploit"},{"date":"2024-05-01","event":"LayerZero launches ZRO token airdrop with anti-sybil process; approximately 803,093 addresses flagged as potential sybils.","source":"The Block","source_url":"https://www.theblock.co/post/294230/layerzero-labs-ceo-says-up-to-100000-addresses-have-self-reported-as-airdrop-sybils"},{"date":"2026-03-06","event":"According to LayerZero's incident report, a threat actor (attributed to North Korea's TraderTraitor group) socially engineered a LayerZero developer to install malware, gaining access to internal RPC infrastructure.","source":"LayerZero Labs KelpDAO Incident Report / CoinDesk","source_url":"https://layerzero.network/blog/layerzero-labs-kelpdao-incident-report"},{"date":"2026-04-18","event":"KelpDAO rsETH bridge exploited for approximately $292 million. The attacker forged a cross-chain message using compromised LayerZero RPC nodes, exploiting a 1-of-1 DVN configuration. LayerZero attributes the attack to TraderTraitor (Lazarus Group).","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2026/04/19/2026-s-biggest-crypto-exploit-kelp-dao-hit-for-usd292-million-with-wrapped-ether-stranded-across-20-chains"},{"date":"2026-04-19","event":"LayerZero publishes incident statement claiming KelpDAO's setup 'directly contradicts the multi-DVN redundancy model' it had 'consistently recommended.' Pellegrino posts that 'nobody should be relying on sole DVN.' KelpDAO disputes these characterizations.","source":"CoinDesk / LayerZero","source_url":"https://www.coindesk.com/tech/2026/04/20/kelp-dao-claims-layerzero-s-default-settings-are-what-actually-caused-the-usd290-million-disaster"},{"date":"2026-04-20","event":"KelpDAO publicly disputes LayerZero's characterization and claims LayerZero's default settings caused the disaster.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2026/04/20/kelp-dao-claims-layerzero-s-default-settings-are-what-actually-caused-the-usd290-million-disaster"},{"date":"2026-05-07","event":"Solv Protocol announces it is moving approximately $700 million in tokenized bitcoin infrastructure from LayerZero to Chainlink CCIP.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/05/07/solv-drops-layerzero-for-chainlink-ccip-in-usd700-million-tokenized-bitcoin-migration"},{"date":"2026-05-09","event":"LayerZero publicly states it 'made a mistake by allowing its DVN to act as a 1/1 DVN for high-value transactions,' reversing its earlier positioning and apologizing for its initial response.","source":"CoinDesk / The Block","source_url":"https://www.coindesk.com/tech/2026/05/09/layerzero-says-it-made-a-mistake-in-usd292-million-kelp-exploit"},{"date":"2026-05-14","event":"Kraken announces it will replace LayerZero with Chainlink for kBTC and future wrapped assets.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/05/14/kraken-to-replace-layerzero-with-chainlink-to-bridge-assets-across-blockchains"},{"date":"2026-07-09","event":"CoinDesk reports over $7.2 billion in total announced migrations from LayerZero to Chainlink CCIP.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/07/09/over-usd7-2-billion-have-migrated-from-layerzero-to-chainlink-ccip-as-mantle-joins-exodus"},{"date":"2026-09-25","event":"Evercrest Technologies files a notice of civil claim in the Supreme Court of British Columbia against LayerZero Labs Ltd., LayerZero Labs Canada Inc., and Bryan Pellegrino personally, alleging negligent misrepresentation, negligence, and defamation. Pellegrino denies the allegations on X. No court finding has been made.","source":"CoinDesk / Decrypt / Unchained","source_url":"https://www.coindesk.com/business/2026/09/25/kelpdao-sues-layerzero-for-the-largest-exploit-2026-has-seen-so-far"}]},"v":1}