BOUNCEBIT JUST KILLED ITS OWN L1.
After a $3M exploit, BounceBit plans to shut down its Layer 1 and move BB to BNB Chain.
The attacker moved 286.5M BB from 9 accounts through an authorization flaw.
No private keys were compromised.
BounceBit says it will use a pre-attack snapshot, cancel the unauthorized transfers, and reissue BB as a BEP-20 token.
wild way to handle an exploit, but the chain itself is basically getting retired.
After a $3M exploit, BounceBit plans to shut down its Layer 1 and move BB to BNB Chain.
The attacker moved 286.5M BB from 9 accounts through an authorization flaw.
No private keys were compromised.
BounceBit says it will use a pre-attack snapshot, cancel the unauthorized transfers, and reissue BB as a BEP-20 token.
wild way to handle an exploit, but the chain itself is basically getting retired.
