BounceBit abandons its Layer 1 after 286.5M BB exploit – Why BNB Chain?

YZi Labs-backed BounceBit has announced plans to permanently cease its BounceBit Chain. Instead of repairing the network, BounceBit plans to redeem BB as a BEP-20 token on BNB Chain. This comes after a recent attack in which the wrongdoer misused a flaw in one of BounceBit Chain’s built-in protocol modules. This allowed the attacker to Continue reading "BounceBit abandons its Layer 1 after 286.5M…