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Following
BB The BounceBit chain was closed, hit by 2.865 million BB tokens, and lost approximately US$3 million.
Snapshot block 20,697,260 will exclude unauthorized transfers of tokens. Holders can receive token reissuance on the BNB chain without submitting a claim form or manually migrating.
The closure of the BounceBit chain will end the project's independent Layer 1 network after an attacker transferred 2.865 million BB tokens, assets worth approximately $3 million. BounceBit stopped production at block 20,702,857 and plans to reissue BB tokens on the BNB chain. Its CeDeFi, Prime, vault and real-world asset services continue to operate.
The BounceBit chain shutdown stems from Evmos authorization vulnerability
BounceBit said the incident occurred between 21:02 UTC on August 19 and 01:54 UTC on August 20. The attacker completed 14 transfers involving 9 mainline accounts. Block production stopped after the company detected unauthorized activity.
"We have identified an issue affecting the BounceBit chain and have suspended the node out of caution while deploying a fix. BB transactions are temporarily unavailable. This issue is limited to the chain itself, CeDeFi applications are not affected, nor are smart contracts and vaults. No..."--Bouncebit (@Bouncebit), August 20, 2026
Evmos authorization vulnerability affects a native protocol module that can be called by a contract. Callers can choose another account as the source of funds without having to prove that the account has approved the transfer. This flaw allows an attacker to transfer BB tokens without gaining control of the user's key.
BounceBit reported that there were no cases of private keys stolen, signatures forged, or hardware wallets compromised. Exchange accounts and other services of the company were also unaffected. The shutdown of the BounceBit chain came after the team decided not to repair the deactivated Evmos network.
BounceBit chain closure migrates BB balances to the BNB chain
BB token migration will use snapshots at blocks 20,697,260. BounceBit recorded this status on August 19 at 21:02:35 UTC, before the first unauthorized transfer. The replaced token supply will exclude 286,543,148 BB's attributed to the attacker.
Users do not need to submit claims or manually migrate wallets. BounceBit plans to automatically distribute BEP-20BB tokens to matching BNB chain addresses. Balances in pledge and unbundling will also follow the same snapshot rules.
The company is working with exchanges to reconcile balances and reduce customer losses. At the same time, assistance has been requested in freezing traced funds. BounceBit reminds holders to be wary of unofficial claim pages, migration links and unverified token contracts.
After the BounceBit chain is closed, the project will operate its tokens and services through the BNB chain. The company said most products and users are already running on the chain. Evmos ended its blockchain operations in May, making independent rebuilding more difficult.
The snapshot will revoke authorized transfers recorded after the selected block. BounceBit will announce the official BEP-20 contract address and re-release schedule later.
