Bitcoin Exchange Binance Announces It Will End Network Support for This Altcoin! Here’s Why

Cryptocurrency exchange Binance has announced it will end mainnet support for BounceBit (BB). This decision follows the decision to permanently shut down the BounceBit Chain after a hacking attack. Binance will continue to support deposits and withdrawals of the BB token via the $BNB Smart Chain (BEP20) network.

According to a statement by Binance, BB deposits and withdrawals on the BounceBit mainnet have been suspended as of August 20, 2026, at 05:00. To allow users to transfer their existing assets to the new network, BB deposits and withdrawals on the $BNB Smart Chain are scheduled to reopen on September 1, 2026, at 10:00.

As part of the token transformation, BounceBit (BB) will be migrated from the mainnet to the $BNB Smart Chain at a 1:1 ratio. Therefore, the amount of BB users hold will not change due to the transformation. Transactions will be carried out through the new BB token’s smart contract, which operates on the BEP20 standard.

Binance emphasized that deposits and withdrawals on the mainnet will no longer be supported, but stated that spot, margin, and futures trading services for BB, as well as Binance Earn services, will not be affected during the contract change.

The exchange also announced that it will handle the necessary technical processes for users involved in the conversion process. This will eliminate the need for users to manually complete the token conversion.

The details of the hack that led to the shutdown of BounceBit Chain were not fully shared in the statement. The decision to permanently terminate the project’s mainnet stands out as a significant change for the future of the ecosystem following the security incident.

Binance’s move to move BB support to the BEP20 network aims to ensure the token continues to be used via the $BNB Smart Chain infrastructure. Users are advised to select the correct network for deposits and withdrawals, which will begin on September 1st, and are warned that the BounceBit mainnet will no longer be supported.

This transition means the BounceBit ecosystem is moving to a new technical infrastructure following a hack attack, and the preservation of existing BB token trading services on Binance is considered an important detail for investors.

*This is not investment advice.