BounceBit
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 20 → 38. Problems weighed by who is responsible: incidents the subject suffered −20, concerns that are not fraud −6, problems around the subject, caused by others −3.3; legitimacy credit long-running +4, regulated +10; no longer operating, so capped at 50; a recent unresolved incident −12.4; fact-check adjustments (−8) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -3.3 |
| Long-running | +4 |
| Regulated | +10 |
| Recent unresolved incident | -12.4 |
| Sum | 37 |
- No longer operating, so capped at 50.
Score: 38/100 (kept between 0 and 100)
How scoring works →Summary
BounceBit was a Bitcoin restaking Layer 1 blockchain backed by YZi Labs (formerly Binance Labs) and Blockchain Capital that launched mainnet in May 2024. On August 19-20, 2026, an attacker exploited an authorization flaw in the project's Evmos-based vesting account module to move 286.5 million BB tokens (~$3 million) across 14 transactions without holding valid grants. The protocol's reliance on the discontinued Evmos framework made a rebuild infeasible; BounceBit permanently shut down its chain and announced BB will be reissued as a BEP-20 token on BNB Chain using a pre-attack snapshot.
Connected Entities
7 entities · 60 linked investigations- BounceBit→mentioned with→Binance(80%)
- BounceBit→mentioned with→Bitcoin(65%)
- Evmos Network→mentioned with→BounceBit(80%)
- Evmos Network→mentioned with→Bitcoin(60%)
- Cosmos (ATOM)→mentioned with→Binance(60%)
- Evmos Network→mentioned with→Cosmos (ATOM)(80%)
- BounceBit→mentioned with→Evmos Network(80%)
- BounceBit→mentioned with→Blockchain Capital(80%)
- Evmos Network→mentioned with→Binance(65%)
- BounceBit→mentioned with→Cosmos (ATOM)(75%)
- + 1 more
2 submissions awaiting moderator review.
Timeline(7 events)
April 2024
YZi Labs (then Binance Labs) announced an investment in BounceBit, describing the project as building BTC restaking CeDeFi infrastructure.
YZi Labs on X13 May 2024
BounceBit mainnet launched. BB token listed on Binance through the exchange's inaugural Megadrop event. Trading pairs opened in BB/BTC, BB/USDT, BB/BNB, BB/FDUSD, and BB/TRY.
CoinCarp / Cryptonomist18 May 2026
Evmos network officially ceased operations at block height 37,318,000 after governance Proposal #331 passed with 99.8% approval, leaving BounceBit operating on an unmaintained fork.
Phemex News / KuCoin News19 August 2026
At 21:02:35 UTC, the first unauthorized transfer began. An attacker exploited an authorization flaw in BounceBit's Evmos-based vesting account module. Chain state at block 20,697,260 was later designated as the pre-attack snapshot for the BNB Chain reissuance.
CryptoTimes / Protos20 August 2026
At 01:54 UTC, the final unauthorized transfer completed. In total, 286,543,148 BB tokens (~$3 million) were moved from nine accounts across 14 transactions. At 02:36:37 UTC, BounceBit halted block production.
CryptoTimes / Protos / The Block20 August 2026
BB token hit a record low of approximately $0.0079 following the exploit announcement.
COINOTAG21 August 2026
BounceBit announced the permanent shutdown of BounceBit Chain and confirmed BB will be reissued as a BEP-20 token on BNB Chain using balances from the pre-attack snapshot at block 20,697,260. The team cited the discontinued Evmos framework as making a rebuild infeasible.
The Block / Protos / BeInCryptoDecision Log
- slot 455361784 · hash 7DyPNTUnBSNahDU14y6NbV19ESHtLHZAjgoXSfGsGREy
- slot 443510492 · hash 2roDqnoK9NiCPpFH2a89LZTga41MPAjsQ923QDfHVxR9
- slot 443510480 · hash 698Nn8AUtzcckLwDa2juws5t6WFX94gaHKQySyhJBRms
- slot 443510057 · hash 5VLqdAdyfAxbJPeSPScehxY6w2YcoEWnHYMfPZ2R8Pxi
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 11 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/24/2026, 12:04:16 PM
last updated: 10/10/2026, 6:42:15 PM
2 viewsavoid.net — verified advice for a post-truth world