BounceBit Chain to Shut Down Permanently; BB to Be Reissued as BEP20 on BNB Chain

AI Market Summary

BounceBit Chain has permanently halted after an exploit, ending block production and discontinuing future upgrades. The project will reissue BB as a BEP20 token on BNB Chain using a pre-attack snapshot, explicitly excluding 286,543,148 BB moved during the incident. The event is highly disruptive for BB holders and on-chain activity, raising counterparty and migration execution risk while concentrating liquidity onto BNB Chain rails.

Impact level

● High

Affected assets

BB/USDT+17.41%

AI Insight · BB/USDTAI Insight

▼ Bearish

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BounceBit Chain stopped producing blocks at height 20,702,857 on Aug. 20 at 02:36:37 UTC. The team said it will permanently discontinue the network, with no further upgrades planned, and will reissue BB on BNB Chain as a BEP20 token. New BB balances will be calculated from a snapshot taken at block height 20,697,260 on Aug. 19 at 21:02:35 UTC. The 286,543,148 BB moved during the attack will be excluded from the reissued supply.

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