According to CoinMeta, Bouncebit announced that it will permanently shut down its Layer blockchain and migrate to the BNB chain after suffering an attack worth 3 million US dollars. The attackers exploited an authorization vulnerability to transfer 286.5 million BB tokens from nine accounts without leaking any private keys or wallets. Bouncebit will decommission this chain, use a snapshot from before the attack to reverse the unauthorized transfers, and reissue the BB tokens as BEP-20 tokens on the BNB chain. Holders are expected to automatically receive the new tokens.