The decentralized exchange Bunni has announced its closure following a significant exploit that resulted in the loss of $8.4 million in September. This comes just days after the Kadena blockchain’s founding team halted operations due to challenging market conditions. In a statement, Bunni explained their decision to wind down operations as insufficient funds left them unable to afford essential improvements like security audits and monitoring. Despite this setback, the team has been praised for open-sourcing its V2 smart contracts under an MIT license, allowing developers to build upon their unique features such as liquidity distribution functions, surge fees, and autonomous rebalancing. Bunni’s TVL had soared from $2.23 million in June to almost $80 million by August, before the exploit halted its growth. The team remains committed to working with authorities to recover the stolen funds.