BounceBit shuts down blockchain after $3M exploit

BounceBit will shut down its blockchain after a $3M exploit, reissuing BB tokens on BNB Chain using a pre-attack snapshot. Core products remain unaffected.

BounceBit is permanently shutting down its standalone blockchain following a major security breach. Attackers exploited a protocol-level authorization vulnerability, resulting in the unauthorized transfer of approximately 286.5 million BB tokens, valued between $3 million and $3.3 million. The vulnerability was traced to the Evmos protocol layer, which allowed attackers to move tokens from nine mainnet accounts without proper authorization. In response, BounceBit halted block production, froze the on-chain state, and decided not to attempt a network upgrade due to the discontinued status of the Evmos infrastructure. Instead, BounceBit will reissue BB tokens as BEP-20 tokens on the BNB Chain, using a pre-attack snapshot to restore user balances and exclude stolen tokens. Core products, including CeDeFi, Prime, and real-world asset offerings, were not affected by the exploit. The project is working with exchanges to ensure customers do not incur losses from the incident.