BounceBit Blockchain Ceases Operations After $3 Million Exploit

cryptonews.ruPublished on 2026-08-23Last updated on 2026-08-23

Abstract

The BounceBit team announced that an attack occurred between August 19th and 20th, resulting in the theft of 286 million BB tokens worth $3.1 million from nine BounceBit Chain addresses. The exploit was due to an authorization flaw in the vesting and account locking module of the Evmos stack, on which BounceBit Chain was built. Part of the stolen tokens were sent to cryptocurrency exchanges, while 18.5 million BB remain on a single address. The team has contacted exchanges to request freezing specific addresses. Developers have decided to permanently shut down BounceBit Chain instead of restoring it, as it was built on the now non-functional Evmos infrastructure. BB tokens will be reissued as BEP-20 tokens on the BNB Chain. The distribution will use a snapshot from before the attack, and users do not need to take any action to receive the new tokens. The stolen 286.5 million BB will not be included in the new issuance. This incident follows other recent hacks, including a $1.7 million attack on Maya Protocol last week.

The BounceBit team reported that the attack lasted from August 19 to 20. The attackers managed to move 286 million BB tokens worth $3.1 million from nine BounceBit Chain addresses. The hackers exploited an authorization flaw in the vesting and account staking module of Evmos, the stack on which the BounceBit Chain network was built.

Part of the stolen tokens was sent by the hacker to cryptocurrency exchanges: approximately 254 million BB was transferred to an unnamed major platform, nearly 10 million BB to another exchange, and the remaining 18.5 million BB remains on one address. The BounceBit team has already contacted exchanges requesting the freezing of specific addresses.

The developers decided not to restore the network but to completely shut down BounceBit Chain, as the blockchain was built on the now non-functional Evmos infrastructure. The developers explained: migrating a fork to a new codebase would require a complete rebuild of the platform, as well as re-auditing and validation, before the network could securely transfer assets again.

BB tokens will be reissued as BEP-20 tokens on the $BNB Chain. A snapshot of the block before the attack—number 20,697,260—will be used to determine the amount of BEP-20 tokens customers should receive. The stolen 286.5 million BB are not included in the new issuance. Users do not need to take any action to receive the new tokens—they will be automatically distributed to addresses on the $BNB Chain, the project team promises.

We have identified an issue affecting BounceBit Chain and have paused nodes out of caution while we deploy a fix. BB transactions are temporarily unavailable.

This is limited to the chain itself, the CeDeFi app is not affected, and neither are smart contracts or vaults.

No...
— BounceBit (@bouncebit) August 20, 2026

In 2024, the BounceBit project raised $6 million in investments from companies Blockchain Capital and Breyer Capital. YZi Labs invested in BounceBit at the end of April that same year.

Last week, Maya Protocol suffered from a hack, losing $1.7 million in crypto assets, predominantly Bitcoin. Earlier, the crypto service Coinsbuy was subjected to a hacker attack—$7.9 million was withdrawn from it.

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BounceBit Blockchain Ceases Operations After $3 Million Exploit

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