Risks

CCTP Transfers

Cross Chain Transfer Protocol (CCTP) is a protocol designed to facilitate asset transfers between blockchain networks. With CCTP, you are trusting a 3rd party (Circle) to cryptographically sign a message ("attestation") that your funds were sent. Circle performs anti-money laundering (AML) checks on transfers, but does not perform know your customer (KYC) checks.

Users are trusting that the CCTP smart contracts are correctly implemented. An audit can be found here (opens in a new tab).

Finally, users risk signing an incorrect burn message payload and sending their funds to an irrevocable blockchain or address.

IBC transfers

Inter-blockchain communication (IBC) is a formally verified protocol designed to enable communication between blockchain networks.

Users trust the validator sets of both chains and correct implementation of the IBC protocol.

Audits and more information can be found here (opens in a new tab).