Binance to End BounceBit Mainnet Support for BB After Chain Shutdown

BitcoinWorld Binance to End BounceBit Mainnet Support for BB After Chain Shutdown Binance has announced it will discontinue support for BounceBit (BB) deposits and withdrawals on the BounceBit mainnet, following the project’s decision to permanently shut down its own chain after a security breach.

Starting Sept. 1, BB deposits and withdrawals will be processed exclusively via the BNB Smart Chain (BEP20) network. Timeline of the Transition According to Binance’s official notice, deposits and withdrawals on the BounceBit mainnet were already suspended at 2:00 a.m.

UTC on Aug. 20. The exchange will begin supporting BSC-based BB transactions at 7:00 a.m. UTC on Sept. 1. Users who still hold BB on the BounceBit mainnet are advised to follow BounceBit’s migration instructions to avoid any loss of funds.

The move comes after BounceBit revealed that its chain had been compromised in a hacking incident, leading to the irreversible decision to shut down the network.