BounceBit retires chain after attacker moves 286.5 million BB

BounceBit plans to permanently retire its Layer 1 blockchain after an attacker moved 286.5 million BB from nine mainnet accounts. BounceBit will reissue the token as a BEP-20 asset on BNB Chain. The team said the attacker compromised no private keys, wallets, or hardware devices. The vulnerability allowed the attacker to designate any account as the funding source without the holder's consent. The attacker conducted 14 transactions over 4 hours and 52 minutes on August 19 and 20. Block production stopped at height 20,702,857 about 42 minutes after the final transfer. BounceBit said Evmos has been discontinued. The project said moving its fork to a successor codebase would require a full rebuild, re-audit, and revalidation. BounceBit CeDeFi Strategy, Promo Vaults, Prime, and RWA products are not affected. The team will set balances from block 20,697,260. BB tokens moved during the incident will not exist on the reissued token. Transfers made during the 5-hour-34-minute window will be reversed. Staked and unbonding balances will count toward the snapshot. BounceBit plans to credit the reissued tokens automatically to matching BNB Chain addresses. BB traded near $0.0111 on Saturday. BB was up 16% over 24 hours. The token reached a record low of $0.0079 on August 20. The stolen supply represented about 13.6% of the 2.1 billion maximum supply and was worth nearly $3.2 million at current prices.