Bunni DEX Shutters After $8.4 Million Hack as October Claims Another Crypto Project
Decentralized exchange Bunni is shutting down following an $8.4 million exploit caused by a smart contract bug.Summary
The decentralized exchange protocol Bunni has announced its shutdown after suffering an $8.4 million exploit on September 2nd. The hack exploited a rounding-direction bug in the smart contract's withdrawal logic, allowing an attacker to manipulate liquidity and extract funds from two pools on Unichain and Ethereum.
Following the incident, Bunni's Total Value Locked (TVL) plummeted by 97.44% to just $1.3 million. Attempts to recover funds, including an offer to let the attacker keep 10% of the stolen assets, failed. The team concluded that relaunching would require significant capital for comprehensive audits and development, which they could not afford.
Bunni is allowing users to withdraw remaining funds and plans to distribute treasury assets to BUNNI, LIT, and veBUNNI holders after legal processes conclude. The team relicensed the v2 smart contracts to MIT to allow the community to utilize their innovations.
(Source：BeInCrypto)