BounceBit to Retire Proprietary Chain After Evmos-Layer Flaw, Rebuild on BNB Chain

AI Market Summary

BounceBit disclosed a critical vulnerability in the Evmos protocol layer on BounceBit Chain, enabling an attacker to transfer ~286.5M BB from nine mainnet accounts. The team halted block production and froze the chain state, then announced a permanent shutdown of the self-built chain and a rebuild on BNB Chain. The incident elevates counterparty and operational risk perceptions around BB and related ecosystem activity.

Impact level

● High

Affected assets

BB/USDT+17.41%

AI Insight · BB/USDTAI Insight

▼ Bearish

Trade now

⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.

PANews, Aug. 21 — BounceBit said it has identified a security vulnerability in the Evmos protocol layer of its proprietary BounceBit Chain. The project disclosed that between Aug. 19, 21:02 UTC, and Aug. 20, 01:54 UTC, an attacker made unauthorized transfers totaling about 286.5 million BB from nine mainnet accounts. BounceBit later suspended block production and froze the chain state at 02:36 UTC on Aug. 20.

Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.

Risk Warning

Cryptocurrencies and their derivatives are innovative financial products with great volatility and high investment risks.

Although BingX is committed to providing users with easy-to-use trading tools, trading itself is still a highly sophisticated field. Trading digital assets and their derivatives are subject to high market risk and price volatility and may result in partial or total loss of account funds. You must carefully consider and exercise clear judgment to evaluate your financial situation and the aforementioned risks before using BingX Services. You shall be responsible for all losses arising therefrom. If necessary, please consult relevant professionals to make informed decisions before investing. By accessing, downloading, using or clicking on "I agree" to accept any BingX Services provided by BingX, you agree that you have read, understood and accepted all of the terms and conditions stipulated in BingX Terms of Use as well as our Privacy Policy.

Trading by copying or replicating the trades of other traders involves a high level of risks, even when copying or replicating the top-performing traders. Past performance of a BingX community member is not a reliable indicator of his future performance. Content on BingX's trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of BingX.