Bunni DEX Halts Operations Following $2.4 Million Liquidity Exploit
Decentralized exchange (DEX) Bunni has announced a temporary pause on all its smart contracts after experiencing a significant exploit that resulted in the loss of approximately $2.4 million in stablecoins. The breach, which was identified earlier today, exploited a critical vulnerability within the platform's proprietary liquidity management logic.
The incident has prompted an immediate shutdown of operations as the team investigates the root cause and works towards a resolution to secure user assets and restore functionality. This event underscores the persistent security challenges facing the decentralized finance (DeFi) sector.
Details of the Exploit
The attacker successfully leveraged a flaw embedded in Bunni's custom liquidity logic. This specific vulnerability allowed unauthorized access and manipulation, leading to the drainage of a substantial sum of stablecoins from the platform's pools. The approximate value of the stolen assets stands at $2.4 million.
Following the detection of the exploit, the Bunni team made the decision to pause all relevant contracts. This emergency measure was taken to prevent further losses and contain the damage, effectively freezing all transactions and interactions with the affected liquidity functions. The focus is now on forensic analysis and formulating a recovery strategy.