Bunni, a decentralized exchange (DEX) built on Uniswap v4, has permanently shut down following a devastating $8.4 million hack that occurred on September 2, 2025. The exploit targeted a vulnerability in the platform's Liquidity Distribution Function, allowing attackers to manipulate internal calculations and drain funds from liquidity pools on Ethereum and Unichain.
Initial reports indicated losses of $2.3 million to $2.4 million on Ethereum, but further analysis by QuillAudits and Halborn revealed an additional $5.9 million stolen on Unichain, bringing the total to $8.4 million. The stolen assets included stablecoins like USDC and USDT, which were consolidated into a single wallet.
After the incident, Bunni paused all smart contract activity and advised users to withdraw their funds. The team stated that restarting the platform would require six to seven figures in audit and monitoring costs, which they could not afford, leading to the decision to cease operations. In an official statement, they expressed, "It is with saddened hearts that we announce the shutdown of Bunni."
Users can still withdraw assets via the official website until further notice. The project plans to distribute remaining treasury funds to holders of BUNNI, LIT, and veBUNNI tokens, based on a snapshot that excludes team members. Additionally, Bunni v2 smart contracts have been relicensed from BUSL to MIT, making features like surge fees and autonomous rebalancing freely available to the ecosystem. Efforts to recover the stolen funds are ongoing with law enforcement.
This shutdown follows closely after the founding team behind the Kadena blockchain announced its cessation due to unfavorable market conditions. Kadena's native token, KDA, experienced a significant price drop, falling over 99% from its 2021 peak of $27.64. The crypto community has reacted with concern, noting a trend of projects closing in quick succession.
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