YZi Labs-Backed BounceBit Shuts Down Chain After 286M BB Exploit

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The post YZi Labs-Backed BounceBit Shuts Down Chain After 286M BB Exploit appeared first on Coinpedia Fintech News

YZi Labs-backed BounceBit is permanently shutting down its own Layer 1 blockchain after an attacker moved 286.5 million BB tokens (worth more than $3.1 million) through a flaw in the network’s authorization system.  The project will instead reissue BB tokens on BNB Chain, ending BounceBit’s standalone chain after more than two years. BounceBit Ends Its …