BounceBit Ditches Standalone Blockchain After Protocol- Level Breach Exposes Security Flaw

BounceBit's standalone blockchain has been shut down following a security breach that exposed a protocol-level flaw.

The attacker exploited this weakness to move approximately 286.5 million BB tokens, valued at about $3.3 million at the time of the attack.

Rather than attempt to patch around the damage, BounceBit has chosen to abandon its own chain and reissue the BB token on the BNB Chain using a snapshot taken before the breach.

This decision reflects how seriously the project treated the breach, as sunsetting an entire chain is a drastic step that signals a lack of confidence in the original architecture.