Embattled decentralized cryptocurrency exchange, Bunni has announced the closure of its platform after suffering a multi-million dollar hack in September. The platform made the announcement on Thursday via its official X page. 

More so, the decentralized trading platform said losing $8.4 million to the breach created a huge hole in its operating capital. Bunni established that it had no option but to shut down the platform. 

Furthermore, Bunni revealed that it will need about 6-7 figures for audit and monitoring expenses alone for a restart. According to the announcement, the platform cannot afford the fee to get the protocol running again. 

Despite lacking the financial backing for a relaunch, the DEX stated that it would use its platform well. As indicated, Bunni will re-license its smart contracts to allow individuals to use some of its innovations without restriction. 

Functionalities like LDFs, surge fees, and autonomous rebalancing are all available for use. Likewise, the protocol went on to hint that despite shutting down, it will give users enough time to withdraw their assets. 

Bunni disclosed how the project team is working on distributing the remainder of its treasury among holders of BUNNI, LT, and VeBUNNI. 

Key insights 

Recall that in September, Bunni suffered a breach that claimed about $8.4 million from its Treasury. In reaction to the attack, the decentralized exchange suspended all operations to investigate the issue. 

During the month, crypto projects lost more than $127 million to bad actors. According to blockchain security firm Peckshield, the sector witnessed 20 high-profile cases of cyber attack in September. 

Meanwhile, the figure indicates a 22% drop from the $163 million hackers looted from crypto projects in August. Nevertheless, the numbers are worrisome due to how crypto is nearing global adoption and needs security assurances to convince more investors. 

Despite gaining more attention from institutional investors in 2025, the crypto space is seriously struggling to contain the activities of hackers within the sector. Hacken, another blockchain security firm in July disclosed that the cryptocurrency market has lost more than $3.1 billion to hackers with state-backed syndicate Lazarus Group leading the assault. 

Additionally, the figure indicates all the total funds crypto firms lost to bad actors during the first half of 2025, despite losing only $2.85 billion in the whole of 2024. 

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