Chainlink launches CCIP 2.0 to give big crypto apps more control over security

Chainlink released CCIP 2.0 on Monday to let companies add their own security checks to cross-chain transfers. CCIP first launched in 2023. The protocol moves tokens and messages between chains. Chainlink's Risk Management Network no longer works as a separate safeguard. Users who do not add their own verifiers appear to rely on one verification network instead of two. Blockchains cannot communicate directly, so token transfers between chains depend on a bridge. Verifiers confirm that a transaction happened on the first chain before funds are released on the second. If a verifier is fooled, an attacker can withdraw money that was never deposited. The launch came five months after the year's biggest DeFi hack. The hack was blamed on a bridge that relied on just one security check. In April, attackers allegedly linked to North Korea's Lazarus Group drained about $292 million in rsETH from Kelp DAO's bridge. The bridge ran on LayerZero. The attackers tricked the single verifier the setup relied on.