BounceBit has reportedly suffered an attack worth around $3 million, with attackers draining approximately 286.5 million BB tokens from nine wallets, causing a temporary halt in block production. The project has since decided to discontinue its native chain and migrate to BNB Chain.
Nine wallets, 286.5 million BB tokens—that's what attackers managed to siphon off the BounceBit network. Following the attack, block production ground to a halt, and the team ultimately decided not to patch the chain but to shut it down entirely, moving the whole project over to BNB Chain instead.
According to The Block, the attack was worth roughly $3 million. The attacker drained tokens from nine separate wallets in batches until block production was forcibly halted, stopping further damage.
What's more notable than the exploit itself is how BounceBit chose to respond: rather than issuing a patch and relaunching the chain, the team announced they're retiring the entire chain and shifting assets and operations over to BNB Chain. For a project that once had its own native blockchain, this essentially means abandoning the underlying infrastructure altogether and starting fresh on a more established chain instead.
That's all the information available for now—details on the migration timeline and how user assets will be handled have yet to be officially announced.
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