Decentralized exchange Bunni loses an estimated $8.4 million in smart contract exploit

Decentralized trading platform Bunni lost about $8.4 million worth of funds due to an exploit, with roughly $6 million drained on Unichain and $2.4 million on Ethereum, onchain security firm Hacken reported on Tuesday.

"If you have money on [Bunni], remove it ASAP," wrote X user @Psaul26ix, who is a core contributor at Bunni. 

Bunni is a DEX built on Uniswap V4 that optimizes liquidity provider returns through the use of adaptive pools and incentive tokens. 

Following reports of the exploit, the platform acknowledged the incident at 3:04 a.m. in a post on social media platform X.

"The Bunni app has been affected by a security exploit," the platform said. "As a precaution, we have paused all smart contract functions on all networks. Our team is actively investigating and will provide updates soon."

In a follow-up notice, Bunni said only two pools appear affected by the exploit, namely the USDC/USDT pair on Ethereum mainnet and the ETH/weETH pair on Unichain. All Bunni deployments remain paused as the team continues to investigate.

Updated with a revised exploit amount and the latest announcement from Bunni's team on X.