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 …
Source: https://coinpedia.org/news/yzi-labs-backed-bouncebit-shuts-down-chain-after-286m-bb-exploit/
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