Bunni DEX Halted After $2.4M Exploit of Liquidity Function

The decentralized exchange Bunni has been forced to halt all smart contract functions following a security exploit that resulted in the theft of approximately $2.4 million in stablecoins. This incident occurred after attackers manipulated the platform’s liquidity calculations, according to on-chain data from multiple Web3 security firms. 💰

Bunni confirmed the attack on X (formerly Twitter) on Tuesday and stated they are actively investigating the situation.

The funds were drained to an address holding $1.33 million in USDC and $1.04 million in USDt, according to blockchain analysis firms.