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DeFi shocks: Venus Protocol and Bunni DEX lose over 21 million USD due to hackers
On September 2, the DeFi market was shaken when #VenusProtocol and #BunniDex simultaneously encountered security issues, causing a loss of over 21 million USD.
Venus Protocol – a major lending platform on $BNB Chain – was forced to suspend operations after a "whale" was phished, losing about 13.5 million USD in assets (vUSDT, vUSDC, vWETH, vFDUSD). PeckShield and CertiK reported that the victim mistakenly signed a transaction granting the hacker permission. Venus confirmed that the smart contract is still safe and quickly implemented an emergency procedure. Notably, the protocol forced liquidation of the hacker's wallet to recover the entire amount, allowing operations to resume in just a few hours. The initial price of XVS dropped sharply but quickly recovered around 6 USD.
Meanwhile, Bunni DEX was hacked multichain, suffering losses of about 8.4 million USD from the USDC/USDT pool on Ethereum and ETH/weETH on #Unichain . The entire smart contract was temporarily halted for investigation, involving several major security companies. To date, the cause and remedy have not yet been announced, causing the BUNNI token to plummet over 42% in just 24 hours.
This double incident highlights the significant security risks in DeFi, even with top-tier projects. Investors need to be vigilant against phishing and smart contract vulnerabilities.
⛔ Risk warning: The hacking incidents show that DeFi always carries the risk of significant losses. Investors should carefully consider before participating and only invest within their risk tolerance.
On September 2, the DeFi market was shaken when #VenusProtocol and #BunniDex simultaneously encountered security issues, causing a loss of over 21 million USD.
Venus Protocol – a major lending platform on $BNB Chain – was forced to suspend operations after a "whale" was phished, losing about 13.5 million USD in assets (vUSDT, vUSDC, vWETH, vFDUSD). PeckShield and CertiK reported that the victim mistakenly signed a transaction granting the hacker permission. Venus confirmed that the smart contract is still safe and quickly implemented an emergency procedure. Notably, the protocol forced liquidation of the hacker's wallet to recover the entire amount, allowing operations to resume in just a few hours. The initial price of XVS dropped sharply but quickly recovered around 6 USD.
Meanwhile, Bunni DEX was hacked multichain, suffering losses of about 8.4 million USD from the USDC/USDT pool on Ethereum and ETH/weETH on #Unichain . The entire smart contract was temporarily halted for investigation, involving several major security companies. To date, the cause and remedy have not yet been announced, causing the BUNNI token to plummet over 42% in just 24 hours.
This double incident highlights the significant security risks in DeFi, even with top-tier projects. Investors need to be vigilant against phishing and smart contract vulnerabilities.
⛔ Risk warning: The hacking incidents show that DeFi always carries the risk of significant losses. Investors should carefully consider before participating and only invest within their risk tolerance.
🔥 Breaking DeFi Alert! 🔥
🚨 Bunni DEX Exploited – $8.4M Drained, Smart Contracts Halted! 🚨
💥 Hackers just pulled off a major exploit on Bunni DEX, draining $8.4 Million across Ethereum ($2.3M) and Unichain ($6M).
👉 Root cause? A precision bug in Bunni’s Liquidity Distribution Function – letting attackers manipulate liquidity rebalancing and steal funds.
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⚠️ Why This Matters
🛑 Smart Contract Risks: Even audited protocols can hide fatal flaws.
🌐 Cross-Chain Threats: Hack hit multiple networks at once, proving how vulnerable DeFi can be.
💸 User Trust Shaken: Liquidity providers & investors face huge uncertainty.
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⚡ DeFi Impact
1️⃣ Confidence Crash – Users may avoid new/untested DEXs.
2️⃣ Regulatory Pressure – Calls for tighter audits & security rules will rise.
3️⃣ Innovation vs. Security – High yields mean nothing without protection.
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💡 Smart Takeaway:
This is a negative news event for DeFi, but also a wake-up call.
✅ Developers → Must prioritize continuous audits, bug bounties & stress tests.
✅ Investors → Research before investing, diversify, and never risk more than you can afford to lose.
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🚀 DeFi promises freedom & high rewards, but security remains the key to survival. Stay alert, stay safe!
#defi #CryptoNews #BunniDex #blockchain #CryptoSecurity
🚨 Bunni DEX Exploited – $8.4M Drained, Smart Contracts Halted! 🚨
💥 Hackers just pulled off a major exploit on Bunni DEX, draining $8.4 Million across Ethereum ($2.3M) and Unichain ($6M).
👉 Root cause? A precision bug in Bunni’s Liquidity Distribution Function – letting attackers manipulate liquidity rebalancing and steal funds.
---
⚠️ Why This Matters
🛑 Smart Contract Risks: Even audited protocols can hide fatal flaws.
🌐 Cross-Chain Threats: Hack hit multiple networks at once, proving how vulnerable DeFi can be.
💸 User Trust Shaken: Liquidity providers & investors face huge uncertainty.
---
⚡ DeFi Impact
1️⃣ Confidence Crash – Users may avoid new/untested DEXs.
2️⃣ Regulatory Pressure – Calls for tighter audits & security rules will rise.
3️⃣ Innovation vs. Security – High yields mean nothing without protection.
---
💡 Smart Takeaway:
This is a negative news event for DeFi, but also a wake-up call.
✅ Developers → Must prioritize continuous audits, bug bounties & stress tests.
✅ Investors → Research before investing, diversify, and never risk more than you can afford to lose.
---
🚀 DeFi promises freedom & high rewards, but security remains the key to survival. Stay alert, stay safe!
#defi #CryptoNews #BunniDex #blockchain #CryptoSecurity
🚨 ALERT: $27M Vanishes in Venus Protocol Phishing Scam
A Venus Protocol user has been drained of $27M in crypto after unknowingly approving a malicious transaction 👀
🕵️♂️ Attacker wallet: 0x7fd8…202a
💸 Assets stolen:
- $19.8M in Venus USDT
- $7.1M in vUSDC
- Binance-Peg XRP, ETH & more
🔒 Venus Protocol confirms smart contracts are safe, but has paused operations for deep security review.
📉 Same day: Bunni DEX hit by a $2.3M exploit targeting Ethereum smart contracts.
Two breaches. One day. Nearly $30M lost.
💬 Phishing isn’t just a user mistake—it’s a systemic threat.
Time for DeFi platforms to level up their security game.
#CryptoScam #DeFiSecurity #VenusProtocol #BunniDEX #Web3Risks
A Venus Protocol user has been drained of $27M in crypto after unknowingly approving a malicious transaction 👀
🕵️♂️ Attacker wallet: 0x7fd8…202a
💸 Assets stolen:
- $19.8M in Venus USDT
- $7.1M in vUSDC
- Binance-Peg XRP, ETH & more
🔒 Venus Protocol confirms smart contracts are safe, but has paused operations for deep security review.
📉 Same day: Bunni DEX hit by a $2.3M exploit targeting Ethereum smart contracts.
Two breaches. One day. Nearly $30M lost.
💬 Phishing isn’t just a user mistake—it’s a systemic threat.
Time for DeFi platforms to level up their security game.
#CryptoScam #DeFiSecurity #VenusProtocol #BunniDEX #Web3Risks
Antoine Hancey Eaod:
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🚨 Bunni DEX Halts Smart Contracts After $8.4M Exploit
🔗 What’s Happening: Bunni DEX paused its smart contracts after an exploit drained $8.4M from BunniHub, the protocol’s main contract system. The stolen funds have been traced to two Ethereum wallets.
📊 Analysis:
The exploit underscores the persistent security risks in cross-chain $DEFI protocols.
Immediate halts to smart contracts show the team is prioritizing damage control and user fund protection.
Tracing funds on $ETH Ethereum may aid in partial recovery, though liquidity and trust in Bunni could take a significant hit short-term.
💬 Expert Take: Analysts caution that while DeFi offers innovation, protocol audits and multi-layered security remain critical as exploits grow more sophisticated.
#BunniDex #defi #Ethereum #CryptoSecurity #CryptoNews
🔗 What’s Happening: Bunni DEX paused its smart contracts after an exploit drained $8.4M from BunniHub, the protocol’s main contract system. The stolen funds have been traced to two Ethereum wallets.
📊 Analysis:
The exploit underscores the persistent security risks in cross-chain $DEFI protocols.
Immediate halts to smart contracts show the team is prioritizing damage control and user fund protection.
Tracing funds on $ETH Ethereum may aid in partial recovery, though liquidity and trust in Bunni could take a significant hit short-term.
💬 Expert Take: Analysts caution that while DeFi offers innovation, protocol audits and multi-layered security remain critical as exploits grow more sophisticated.
#BunniDex #defi #Ethereum #CryptoSecurity #CryptoNews
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Another hack? Bunni DEX lost $2.3M
Bunni DEX lost $2.3 million, and you still believe in the 'invulnerability' of smart contracts?
Fresh news from the world of DeFi: another project decided to 'share' assets with hackers. This time, the decentralized exchange Bunni was unlucky, losing $2.3 million on the Ethereum blockchain.
As reported by the blockchain security scanner Blocksec Phalcon, the attack occurred on Tuesday. The exact method of the hack is not yet disclosed, which, of course, did not prevent the hackers from carefully withdrawing funds from the platform to address 0xE04e…64f2b. Now this wallet, according to Etherscan, has been replenished with Aave Ethereum USDC and Aave Ethereum USDT tokens. Beauty.
Fresh news from the world of DeFi: another project decided to 'share' assets with hackers. This time, the decentralized exchange Bunni was unlucky, losing $2.3 million on the Ethereum blockchain.
As reported by the blockchain security scanner Blocksec Phalcon, the attack occurred on Tuesday. The exact method of the hack is not yet disclosed, which, of course, did not prevent the hackers from carefully withdrawing funds from the platform to address 0xE04e…64f2b. Now this wallet, according to Etherscan, has been replenished with Aave Ethereum USDC and Aave Ethereum USDT tokens. Beauty.
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