Photo: cointelegraph.com
Bunni DEX Shuts Down, Opens Smart Contracts to Developers After Major Exploit
Bunni DEX has ceased operations after an $8.4 million exploit, transitioning its V2 smart contracts to an MIT license to foster decentralized finance development amidst growing security concerns.
- After suffering an $8.4 million exploit in September, Bunni has announced its shutdown, becoming the second crypto project this week to close due to financial difficulties.
- In a bid to promote decentralized finance, Bunni is re-licensing its V2 smart contracts from Business Source License to MIT license, enabling broader developer access.
- The team cited challenges in maintaining market liquidity and the increasing threat posed by security hackers as key reasons for closing operations and opening their smart contracts.
Why It Matters
The closure of Bunni DEX underscores the vulnerabilities in the decentralized finance sector, highlighting the need for stringent audits and robust communication protocols to prevent future exploits and ensure user trust.