Odaily reported that due to a hacker attack on BounceBit and the subsequent halt of its operations, Binance will stop supporting the BounceBit mainnet and will enable deposits and withdrawals for BB tokens on the BNB Smart Chain network starting at 23:00 (UTC+8) on September 1.

Odaily Planet Daily News Cross-chain yield protocol BounceBit released a security incident announcement stating that its blockchain network experienced a protocol-level vulnerability attack between 21:02 UTC on August 19 and 01:54 UTC on August 20. The attacker exploited an authorization flaw in the underlying Evmos architecture to transfer BB tokens from 9 mainnet accounts without authorization from the account owners.According to the announcement, the attacker transferred approximately 286.5 million BB tokens through 14 transactions. The impact of the incident was limited to BounceBit Chain itself, with no involvement of private key leaks, signature forgery, wallet, hardware device, or exchange account security issues. BounceBit CeDeFi Strategy, Promo Vaults, Prime, and RWA products were all unaffected.BounceBit stated that the vulnerability stemmed from an authorization verification defect in the protocol's native modules within the Evmos architecture. When the attacker called the relevant modules through smart contracts, they bypassed the security checks that should have verified the authorization relationship of the funding account, allowing them to designate arbitrary accounts as funding sources.After the incident, BounceBit Chain stopped producing blocks at block height 20,702,857. Subsequently, the team decided not to perform a chain upgrade but instead to permanently shut down BounceBit Chain and reissue BB as a BEP-20 token on BNB Chain.BounceBit stated that the supply of the new BB token will be based on the on-chain snapshot taken before the first abnormal transfer (block height 20,697,260), and the 286,543,148 BB transferred by the attacker will not be counted in the new token balances. Users do not need to submit applications or migrate wallets, as the official plan is to automatically distribute the new BB to the corresponding BNB Chain addresses.For BB in staking, BounceBit stated that it will also be restored at the snapshot time point, and token holders do not need to perform unbonding or redemption operations.Currently, BounceBit has submitted freezing and assistance requests to relevant exchanges and reminded users to be wary of scams and not to click any BB migration or claim links that have not been officially confirmed. The team stated that they will subsequently announce the new BEP-20 BB contract address and reissuance progress.

Odaily News: BounceBit announced that the team has identified an issue affecting BounceBit Chain and has temporarily paused node operations to deploy fixes. BB trading and exchange deposits/withdrawals are temporarily unavailable. The team emphasized that the issue is limited to the chain itself, and CeDeFi applications, smart contracts, and vaults remain unaffected, with no private key leaks or user wallet compromises. The chain upgrade is scheduled for August 23 at 17:00 UTC+8.

According to Odaily Planet Daily, BounceBit Foundation is exploring the possibility of enabling a fee switch for BounceBit Trade, using the platform's fees to continuously repurchase BBs, and has currently earned $12 million.

According to Odaily Planet Daily, BounceBit announced on the X platform that it had repurchased 8.87 million BB tokens from the open market over the past week. The repurchase plan is reportedly ongoing, with funding coming from approximately $16 million in annualized protocol revenue.

BounceBit has partnered with Wall Street asset management giant Franklin Templeton to launch a new product, BB Prime, and a token buyback program. The product integrates Franklin Templeton's tokenized money market fund to create a CeDeFi structured product that combines basis arbitrage with Treasury bond yields. The announced BB token buyback program, backed by over $10 million in protocol revenue, aims to strengthen the long-term value of the token.

According to Odaily Planet Daily, crypto infrastructure platform BounceBit is introducing Franklin Templeton's tokenized money market fund to its structured income platform BB Prime, combining U.S. Treasury yields with cryptocurrency funds and basis arbitrage strategies to create a CeDeFi (a combination of centralized and decentralized finance) product. This tokenized fund, part of the BENJI product line, will serve as collateral and settlement tool in the investment strategy. In this way, investors can not only obtain the underlying Treasury bond interest rate income, but also add other sources of income. Franklin Templeton launched its first tokenized U.S. money market fund, BENJI, in 2021. (Coindesk)

Odaily News BounceBit will tokenize Boyaa Interactive shares (HKEX code: 0434), a Hong Kong-listed company that recently hit a record high, up 12 times since 2024. Boyaa Interactive is also the second-largest corporate Bitcoin holder in Asia. The tokenized asset will be available for spot trading and on-chain integration. BounceBit has previously announced plans to bring tokenized stocks from the United States, Europe, Hong Kong, and Japan to its platform.

Odaily News BounceBit announced that it will launch a tokenized stock product in the fourth quarter, covering securities in four major securities markets: the United States, Europe, Hong Kong, China, and Japan. The service is built on BounceBit's Tokenized Stock Environment (TSE), a BounceBit native framework for issuing, pricing, and integrating securities in permissionless markets. From the first day of launch, BounceBit tokenized stocks will be fully integrated into the DeFi field: spot trading, DEX liquidity, collateral in lending agreements, applications in structured income strategies, and re-staking.

Odaily News BounceBit announced the official launch of its new contract trading platform BounceBit Trade, which supports 50x leverage.