A response from LayerZero_Labs regarding the accusations regarding the “default configuration” critical vulnerability. 🧵 👇
According to its whitepaper, the LayerZero protocola trustless way of moving cryptocurrencies from one network to another. It does this by using an Oracle and Relayer to verify that coins are locked on one chain before allowing a coin to be minted on a different chain. As long as the Oracle and Relayer are independent and do not collude with each other, it should be impossible for coins to be minted on the destination chain without first being locked on the originating chain.
In a conversation with Cointelegraph on Jan. 31, Pellegrino stated that all validation libraries “are immutable forever, period.” The team can add new libraries but “can never change, remove, or do anything to” the ones that already exist. While the team can add new libraries to the registry, if an app has already chosen a particular library or set of libraries to be used, this cannot be changed by the LayerZero team.
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