BounceBit, a Bitcoin restaking and yield platform, has announced the permanent closure of its independent Layer 1 blockchain. The decision follows a security incident in which an attacker exploited a protocol-level authorization vulnerability, transferring roughly 286.5 million BB tokens—valued at around $3 million at the time—from nine mainnet accounts. The unauthorized activity took place between 21:02 UTC on August 19 and 01:54 UTC on August 20, 2026. Across 14 transactions spanning nearly fi

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