Bunni, a decentralized exchange (DEX) built on Uni...

Bunni, a decentralized exchange (DEX) built on Uniswap v4, is shutting down operations following an $8.4 million exploit that occurred in early September. The attackers exploited a rounding-direction bug in the smart contracts withdrawal logic, affecting pools on Ethereum and Unichain. This exploit led to a significant drop in Bunni's Total Value Locked (TVL) from $50.82 million to $1.3 million. The Bunni team announced that relaunching the platform would require substantial investment in audits and security monitoring, exceeding their available capital. Users can withdraw their funds through the Bunni website, and the remaining treasury assets will be distributed to BUNNI, LIT, and veBUNNI token holders, excluding team members, after legal processes are complete. The Bunni v2 smart contracts have been relicensed under the MIT License. The closure of Bunni coincides with the Kadena organization also ceasing business operations, citing difficult market conditions. Kadena's native token, KDA, has experienced a significant price drop. Bunni is cooperating with law enforcement to recover the stolen funds. Stay on top of crypto with AI-powered news - theunblock.com.