Bunni DEX Shuts Down Over $8.4M Exploit, Costly Recovery Road

Bunni DEX Shuts Down Over $8.4M Exploit, Costly Recovery Road

The team cannot afford the cost of relaunching the protocol, which would require significant investment in audits and development.

DEX Shuts Down Due To $8.4M Hack » News.ng

Bunni, a decentralised exchange (DEX) once popular for its liquidity solutions, has officially announced the shutdown of its operations following a devastating exploit that drained over $8.4 million in user funds. The breach, which occurred in September, targeted Bunni’s Ethereum and Unichain smart contracts by exploiting a critical flaw in the platform’s Liquidity Distribution Function (LDF). The attackers reportedly manipulated flash loans and…

Another Crypto Project Shuts Down This Week After $8.4 Million Hack

Just months before the incident, Bunni had been hailed as one of DeFi’s most promising liquidity protocols. Its Liquidity Distribution Function, an algorithmic tool designed to boost yield for liquidity providers, attracted massive inflows throughout the summer. Between June and August, the project’s total value locked (TVL) ballooned from just over $2 million to nearly $80 million, according to DefiLlama data — a staggering 35-fold increase in …

Bunni DEX Shuts Down After $8.4 Million Hack and Inability to Fund Relaunch

Bunni shuts down after losing $8.4 million in a hack and lacks the funds to recover. Bunni’s smart contracts are now open source to help developers build new DeFi projects. Kadena’s team exits amid tough market conditions, with token value dropping over 70%. A decentralized exchange (DEX) called Bunni declared that it will halt its operation after a $8.4 million exploit in early September. The team disclosed that the financial loss has plunged i…

Bunni DEX shuts down after failing to recover from $8M exploit

Bunni DEX Says Goodbye But Leaves Legacy in Open Source

Bunni shuts down after losing $8.4M in a September hack, unable to cover recovery costs. The platform was exploited via Ethereum and Unichain vulnerabilities; the site closed immediately. Decentralized exchange Bunni has declared the shutdown of operations following a security breach of $8.4 million in September. The platform is the second significant cryptocurrency project to go out of business this week, following layer-1 blockchain Kadena. T…