BOUNCEBIT CHAIN IS OFFICIALLY SHUT DOWN AFTER $BB EXPLOIT
YZi LABS-BACKED BounceBit confirmed an attacker exploited a protocol-level authorization flaw, moving 286.5M $BB from 9 accounts across 14 unauthorized transactions.
The key point: No private keys or wallets were compromised.
Now:
→ BounceBit Chain = PERMANENTLY SHUT DOWN
→ BB reissued as BEP-20 on BNB Chain
→ Pre-exploit snapshot used for balances
→ Attacker's 286.54M BB excluded
→ Legitimate balances restored automatically
Holders don't need to do anything right now. No claim site exists.
This wasn't a wallet hack.
The protocol itself failed. That's the real lesson here.
YZi LABS-BACKED BounceBit confirmed an attacker exploited a protocol-level authorization flaw, moving 286.5M $BB from 9 accounts across 14 unauthorized transactions.
The key point: No private keys or wallets were compromised.
Now:
→ BounceBit Chain = PERMANENTLY SHUT DOWN
→ BB reissued as BEP-20 on BNB Chain
→ Pre-exploit snapshot used for balances
→ Attacker's 286.54M BB excluded
→ Legitimate balances restored automatically
Holders don't need to do anything right now. No claim site exists.
This wasn't a wallet hack.
The protocol itself failed. That's the real lesson here.