Bunni DEX experienced a significant exploit, resulting in a loss of around $2.4 million in stablecoins due to a weakness in its liquidity rebalancing method. The exploit targeted the Ethereum-based smart contracts, leading the team to temporarily halt all smart contract functions across networks. Users were advised to withdraw their funds promptly. Analysis indicates the attacker manipulated Bunni's Liquidity Distribution Function (LDF) by executing selectively sized trades that broke the rebalancing logic, allowing for funds to be drained systematically. This incident marks a troubling increase in crypto hacking activities as attackers shift focus towards exploiting vulnerabilities in decentralized exchanges. Security experts highlighted a broader trend of rising targeted attacks in the crypto space, with significant losses attributed to social engineering and strategic exploits. The Bunni team is actively investigating the exploit and plans to update the community soon.

Source đź”—