bounce

The cross-chain yield protocol BounceBit has released a security incident announcement stating that its blockchain network experienced a protocol-level vulnerability attack from August 19, 21:02 UTC to August 20, 01:54 UTC. The attacker exploited an authorization flaw in the underlying architecture of Evmos to transfer BB tokens from 9 mainnet accounts without the account owners' authorization. According to the announcement, the attacker transferred approximately 286.5 million BB through 14 transactions.The impact of the incident is limited to the BounceBit Chain itself and does not involve issues related to private key leakage, signature forgery, wallet, hardware device, or exchange account security. BounceBit's CeDeFi Strategy, Promo Vaults, Prime, and RWA products were not affected.BounceBit stated that the vulnerability originated from a defect in the authorization verification of the protocol's native module within the Evmos architecture. The attacker bypassed the security checks that were supposed to verify the authorization relationship of the funding source account when calling the relevant module through a smart contract, allowing them to designate any account as the source of funds.After the incident, the BounceBit Chain stopped block production at block height 20,702,857. The team then decided not to upgrade the chain but to permanently shut down the BounceBit Chain and reissue BB as a BEP-20 token based on the BNB Chain. BounceBit stated that the new BB token supply will be based on an 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 included in the new token balance.Users do not need to submit applications or migrate wallets; the official plan is to automatically distribute the new BB to the corresponding BNB Chain addresses. For staked BB, BounceBit stated that it will be restored at the snapshot time, and holders do not need to perform unbinding or redemption operations. Currently, BounceBit has submitted requests for freezing and assistance to relevant exchanges and has reminded users to be vigilant against scams and not to click on any BB migration or claim links that have not been officially confirmed. The team stated that they will announce the new BEP-20 BB contract address and reissuance progress in the future.

BounceBit posted on platform X that the team has discovered an issue affecting the BounceBit Chain and has suspended node deployment to fix the problem. BB trading and exchange deposits and withdrawals are temporarily unavailable.The official statement emphasizes that the issue is limited to the chain itself, and CeDeFi applications, smart contracts, and vaults are not affected. There has been no private key leakage or damage to user wallets. The chain upgrade is scheduled for August 23 at 17:00 UTC+8.

According to token unlocking data from the crypto asset data platform RootData, BounceBit (BB) will unlock approximately 37.03 million tokens at 0:00 Beijing time on November 13, worth about 3.28 million USD.

ChainCatcher news, according to the token unlocking data from the crypto asset data platform RootData, BounceBit (BB) will unlock approximately 49.04 million tokens at 0:00 Beijing time on October 13, worth about 9.75 million USD.

ChainCatcher news, according to official information, the Bitcoin staking project BounceBit has officially announced its V3 version, rebranding as "Big Bank." The core of this upgrade is the native integration of a perpetual contract DEX and its liquidity pool into the core of the protocol, along with the introduction of a new interest-bearing token (BB-token) standard.The new BB tokens (such as BBTC, BBETH, etc.) are automatically rebasing interest-bearing tokens, meaning that the token balance in users' wallets will automatically increase as earnings accumulate.Users can directly deposit on the original chains like BTC and ETH, and the V3 system will automatically mint the corresponding BB tokens on the BounceBit chain without the need for manual cross-chain transfers. The newly integrated perpetual DEX will introduce liquidity provider tokens (BLP), allowing holders to earn fees as counterparties. The fees generated by the platform will empower the native token BB through a buyback mechanism.

ChainCatcher message, the BounceBit Foundation is considering enabling a fee distribution mechanism for BounceBit Trade. The fees generated by the platform will be directly used for the ongoing BB token buyback, which has received support from $12 million in revenue from other products. Currently, the foundation is evaluating the fee distribution plan and more execution channels.

ChainCatcher news, BounceBit announced on social media that it has repurchased 8.87 million BB tokens from the open market in the past week.The repurchase will continue, driven by approximately 16 million dollars in annual agreement revenue.

C news, according to Digital Journal, BounceBit has officially launched its innovative yield platform BB Prime, which combines real-world assets (RWA) with crypto-native strategies. The platform utilizes Franklin Templeton's on-chain U.S. Treasury fund to achieve a new model of regulated on-chain yield.BB Prime merges the security of treasury-backed assets with the efficiency of blockchain arbitrage, providing users with a way to participate in structured financial products without relying on traditional stablecoins. BB Prime operates on BounceBit's proprietary compliance infrastructure, supporting compliant custody, automated capital allocation, and seamless integration with centralized exchanges. Currently, BB Prime is open for pre-registration, targeting institutions and qualified users.

ChainCatcher news, according to official sources, BounceBit plans to offer tokenized stock trading to users in the fourth quarter of this year.The official statement indicates that from the day of its listing, BounceBit's tokenized stocks will connect to DeFi, supporting spot trading, DEX liquidity, collateral in lending protocols, use in structured yield strategies, and re-staking.

ChainCatcher message, BounceBit's official announcement states that the institution-level stablecoin USD1 issued by WLFI is now supported on BounceBit.The official statement indicates that through this integration, USD1 has now become a qualified asset in the BounceBit CeDeFi portal. Users can directly deploy USD1 into the "auto" strategy, which directs funds to centralized and decentralized platforms, thereby obtaining secure, delta-neutral yield opportunities.

ChainCatcher news, according to CoinDesk, BounceBit has completed a Bitcoin derivatives strategy test based on the BlackRock BUIDL fund, with an annualized return exceeding 24%.The strategy includes Bitcoin basis trading (long spot + short futures) and selling BTC put options, both using BUIDL tokens as collateral. The strategy's returns consist of three parts: 4.7% annualized from basis trading, 15% from the options strategy, plus 4.25% U.S. Treasury yield from BUIDL itself. Compared to collateralized stablecoin solutions with no yield, this model significantly enhances capital efficiency.BounceBit founder Jack Lu stated that this provides investors with a new option to simultaneously gain U.S. Treasury yields and arbitrage opportunities in the crypto market. BounceBit plans to open this strategy to institutional and retail users through its new product line BB Prime.

ChainCatcher news reports that according to 4E monitoring, U.S. stocks opened sharply lower on Monday. During the day, influenced by false news about "tariff delays," the indices fluctuated widely, with the Nasdaq experiencing a maximum amplitude of nearly 10%. U.S. stocks briefly turned positive, but fell again after the news was debunked. Before the market closed, Trump stated that he was not considering suspending the tariff increases and mentioned that multiple countries were coming to negotiate with the U.S. By the close, the three major indices showed mixed results: the Dow fell by 0.91%; the S&P 500 dropped by 0.23%; the Nasdaq narrowly rose by 0.10%, ending a two-day decline. The index of the seven major U.S. tech stocks rose by about 0.2%.The cryptocurrency market rebounded, with Bitcoin leading the decline in the Asian session yesterday, hitting a low of $74,508. In the evening, rumors of a "90-day tariff delay" drove BTC to rapidly break through $81,000, but it fell back after the news was debunked. As of the deadline, Bitcoin was fluctuating above $80,000, up 2.8% in 24 hours, while other altcoins generally saw significant rebounds. In the midst of the market's violent fluctuations, ETH performed particularly weakly, dropping to $1,411 yesterday, leading in decline and hitting a one-year low in market capitalization share. In the current rebound, its increase is also significantly lagging, deepening market concerns about its long-term competitiveness.In the forex and commodities sector, the U.S. dollar index rose by 0.29%, while recession expectations pushed crude oil to a three-day decline, dropping over 2% and hitting a new low in more than three years. Spot gold fell by 1.76%, showing a trend of rising and then falling throughout the day, mostly in a downward state.Trump's tariff policy has triggered a global chain reaction of countermeasures, causing turmoil in the financial markets. Investors are hoping that the Federal Reserve can step in to stabilize the market, but with current inflation pressures being significant, the likelihood of the Fed intervening urgently in the short term is low unless the market or economy falls into a severe crisis.

ChainCatcher message, Bounce Brand responded on the X platform regarding the recent market attention on price fluctuations:"It is important to clarify that the team has not engaged in any form of price manipulation. According to the team's monitoring, over the past few weeks, an unknown entity has accumulated more than 20% of the total supply of AUCTION through continuous on-chain transfers. These on-chain transfer activities and their resulting price impacts have attracted widespread market attention. We have observed that this move has created a significant chain reaction in the market: the spot trading volume of AUCTION on Binance has exceeded $200 million, and the futures market has surged to become the third-largest trading pair, only behind BTC and ETH. On Upbit, the spot trading volume has reached an astonishing level of $500 million, temporarily surpassing the trading scale of Bitcoin.At the same time, we have noticed some unhealthy liquidity conditions in the market: as the primary price discovery market, Binance's hot wallet holdings of AUCTION have fallen below 10% of the total supply. The annualized interest rate in the lending market has climbed above 80%, and the funding rate has consistently maintained an abnormal level of -2%. In response, several exchanges have implemented risk control measures, such as adjusting perpetual contract position limits.To maintain market stability, our team has taken proactive actions: on one hand, we are actively providing liquidity support on multiple exchanges, and on the other hand, we have voluntarily locked up approximately 1.5 million AUCTION tokens from the project’s inventory and team allocation."

ChainCatcher news, according to on-chain analyst @ai_9684xtpa monitoring, four hours ago, two Bounce Finance multi-signature addresses deposited a total of 1.55 million AUCTION into Team Finance and locked it (accounting for 23.5% of circulating tokens), equivalent to approximately 37.73 million USD, locked until September 1, 2025.

ChainCatcher news, according to official sources, Bounce Brand will launch the BSC ecosystem AI agent Launchpad on February 28, and will announce specific details tomorrow.

ChainCatcher news, according to Messari data, BounceBit's TVL (Total Value Locked) is currently $566.1 million. BounceBit will shift its strategic focus towards dollar-denominated yield products in 2025.It is reported that BounceBit's CeDeFi model integrates CeFi and DeFi, aiming to provide institutions with yield, Bitcoin re-staking, and the integration of real-world assets.

ChainCatcher news, CeDeFi infrastructure BounceBit tweeted that it has obtained a license from the Approved Manager (AIM) in the British Virgin Islands. BounceBit will be able to manage investment funds and provide professional investment services under the 2012 Securities and Investment Business (Approved Managers) Regulations.

According to ChainCatcher news from the official blog, the CeDeFi protocol BounceBit has released its strategic plan for 2025, focusing on the development of institutional-level CeDeFi and real-world asset (RWA) businesses. The platform plans to launch its flagship product BounceBit Prime for institutions in Q1, with subsequent developments in the RWA credit market, settlement and clearing systems, etc., from Q2 to Q4.It is reported that BounceBit's total locked value (TVL) has grown from $200 million to $700 million by Q4 2024, with protocol revenue exceeding $2.5 million for two consecutive months. The platform has currently established a strategic partnership with the largest listed Bitcoin holder in Asia, Boyaa Interactive (HKG: 0434).

ChainCatcher news, BounceBit announced the expansion of USDC support through two new initiatives: the introduction of the Bridged USDC standard on the BounceBit chain, and the launch of the USDC yield generation feature on its CeDeFi platform.Users can connect their wallets and deposit USDC through the BounceBit official website to monitor yield performance in real-time. Additionally, BounceBit plans to explore collaboration with Circle in the RWA field and continue to develop more services to meet user needs.