Bunni DEX becomes second crypto project to shut this week

Decentralized exchange Bunni announced it is winding down operations, becoming the second crypto project this week to cease activity, citing a lack of funds following an $8.4 million exploit in September. The team stated that relaunching would require significant capital for audits and development, which they do not possess. This follows the Kadena founding team's announcement that they would cease operations due to difficult market conditions. Prior to the exploit, Bunni experienced rapid growth, with its Total Value Locked (TVL) soaring to nearly $80 million. Despite closing, the team relicensed its v2 smart contracts to the open-source MIT license, allowing developers to use its innovations. Users can withdraw assets, and remaining treasury funds will be distributed to tokenholders pending legal approval, though team members will receive nothing.

(Source：Cointelegraph)