Why $2.87 Billion in Bridge Hacks Are Preventable: A Look at Chainlink (LINK) Cross-Chain Security

Today I crossed with this Chainlink Tweet that lead me to learn and analyze deeper what offers Chainlink in their cross chain bridge security etc. and well, I am impressed.

https://preview.redd.it/eiyyjlzxirfe1.jpg?1920&format=pjpg&auto=webp&s=ddee9e2ac23537fff8253487275e2893d9b30a91

As you can see in the image above, cross chain bridge hacks have drained $2.87 billion according to DefiLlama chart. In the Tweet Chainlink states that those hacks are preventable and they usually happen for insecure private key management, faulty code or centralized architecture.

Chainlink to protect users funds and secure the ecosystem they create a new level of security which is part of the Chainlink CCIP (Cross-Chain Interoperability Protocol) that is formed by 5 security levels and all of them provide:

• Decentralized oracle networks (DONs): This networks are crucial for secure cross chain solutions because they provide a decentralized way to validate and relay data across chains. DONs basically create a framework that provides accurate, tamper proof and high reliable data using independent node operators.
• Independent risk management: They also have a dedicated risk management network that is independent from the primary transactions network and it acts like a watchdog that is continuously monitoring anomalies, suspicious activities or potential exploits. When something is detected this network takes proactive measures like emergency shutdowns, extra security checks making it real time adaptable for a fast a quick response.
• Battle-tested infrastructure: Chainlink infrastructure has been tested against $12 trillion in transaction volume and there is no better solid proof of something being good than real testing and this amount is insane.

You can read more about all the levels (I encourage you the reading if you are a tech lover) here: https://blog.chain.link/five-levels-cross-chain-security/

Sources:

• Chainlink Tweet: https://x.com/chainlink/status/1884226737963409688
• Full information: https://blog.chain.link/five-levels-cross-chain-security/