In case anyone else runs into this: My Cocos2dx 3.5 project started crashing when I upgraded to xCode 7.3 today. The fix I found was to go into build settings and set
Remove Text Metadata From PNG Files = NO.
Looks like a new parameter that defaults to YES which causes libpng to fail.
Also worth noting, that if you do not have a PNG file in the root of the folder, you won’t see PNG options. This caused me a lot of trouble as one project I could turn this XCode bug off, but in another project I had to add a file called “thanks_xcode.png” to Resources directly.
Humm that’s weird, i’ve the other option right under this one.
My project uses the old “Xcode 3.2 - compatible” project format (you can see it on the right column). Maybe yours is different and maybe this option is only available with old project format?