Decentralized exchange Bunni has announced it is shutting down after suffering an $8.4 million exploit in September, making it the second crypto project to close its doors this week. The team revealed in a Thursday X post that operations will wind down due to insufficient funds. They explained that the exploit halted Bunni’s growth and that relaunching securely would demand six to seven figures for audits and monitoring—capital they currently lack. Prior to the attack, Bunni had been expanding rapidly, with its total value locked surging from $2.23 million in June to nearly $80 million in mid-August. The protocol was compromised on September 2 across Ethereum and the layer-2 network Unichain, leading to an immediate halt in operations. Despite shutting down, the team is relicensing Bunni’s version 2 smart contracts under the MIT license, moving them into the open-source realm. This will enable developers to utilize Bunni’s innovative features such as liquidity distribution functions, surge fees, and autonomous rebalancing. Users can continue withdrawing their assets via the website until further notice. The remaining treasury assets will be distributed to token holders after legal clearance, though team members will not receive any funds. Bunni’s team is also cooperating with law enforcement to recover the stolen $8.4 million. Notably, Bunni’s closure follows the recent announcement from the founding team of layer-1 blockchain Kadena, who are also ceasing operations due to challenging market conditions. Despite these shutdowns, Kadena’s network is set to continue under community leadership. For the full story, visit: https://cointelegraph.com/news/bunni-dex-becomes-second-crypto-project-shutter-this-week