Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Bunni Cryptocurrency Exchange freezes Withdrawals Following Massive Hack
    Cryptocurrency

    Bunni Cryptocurrency Exchange freezes Withdrawals Following Massive Hack

    September 3, 20253 Mins Read


    Cryptocurrency exchange Bunni pauses withdrawals following large-scale smart contract hack. Security teams strive to ensure their platforms and restored them.

    One of the leading crypto exchanges stopped withdrawals on all of the listed pairs. This was done after their smart contracts suffered a vital security failure. During the investigation, users are not allowed to move money.

    Source – X

    The affected platform, Bunni, admitted the break in a statement on X.It has been stated that the company immediately terminated all smart contract operations across all networks.

    The transfer is to counter any illegal transactions. Bunni reassured the user that it would update them frequently when investigating the security gap.

    What Went Wrong? Security Crisis in the Middle of Bunni

    Bunni disclosed that its system was attacked by a security vulnerability. The attack on the critical smart contract code was made. As a reaction, Bunni’s engineering team halted all swaps and withdrawals immediately.

    Source – X

    The company established a war room consisting of the leading cybersecurity companies. Specialists of Hypernative, Cyfrin Audits, Seal 911, and two others are engaged (Impossible and BlockSec).

     Such teams are working on the fly to probe the incident. Their intention is to find the source of the exploit and remove it.

    This will pause until a comprehensive audit is done to verify that the system is safe. Bunni assured the users that their money cannot be stolen even after the freeze. Nevertheless, an indefinite blockage of withdrawals has so far been implemented.

    Industry Response: The Threat of Crypto Hacks is on the Rise

    The breach reflects one of the alarming patterns in the decentralized finance sector. Smart contracts remain a threat to both exchanges and users in terms of vulnerabilities. Cybercriminals exploit such vulnerabilities to drain digital resources.

    According to industry analysts, there is a need to have more powerful security frameworks. The case of Bunni highlights the need to move swiftly when transacting business in the face of attacks. The Sony beaks can be suspended at once to reduce losses and safeguard money.

    The same accidents that have occurred in the past have cost the company a lot of money and created panic in the market. Investors are wary of how Bunni responds to the recovery. 

    The work of the company with various security groups can be viewed as a sign of seriousness in re-establishing stability.

    Bunni has not released an informal post that describes specific findings. In the meantime, the crypto community is awaiting greater transparency.  The event is a splash of reality about the dangers of the booming crypto exchange industry.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Cryptocurrency for Beginners: The Only Guide You Need in 2025

    Cryptocurrency

    Indians Using Central Bank Digital Currency Cross 70 Lakh, RBI In “No Hurry” For Rollout

    Cryptocurrency

    Best Crypto Betting Sites 2025 (Cryptocurrency Sportsbooks)

    Cryptocurrency

    India Unveils RBI-Backed Digital Rupee to Curb Unregulated Crypto

    Cryptocurrency

    Two arraigned for defrauding woman of Sh15 million in fake cryptocurrency deal in Nairobi

    Cryptocurrency

    How Recent Digital Asset Moves Shape the Company’s Valuation

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Stock Market

    5 Things to Know Before the Stock Market Opens

    Commodities

    Aude. Ce célèbre groupe de métal s’annonce à Narbonne : il reste des places !

    Cryptocurrency

    Stellar’s 10 Years of Transformation | CoinDesk Live at Stellar Meridian 2024 Video

    Editors Picks

    Dans la Marne, Haffner Energy met en route son unité de production d’hydrogène à base de biomasse

    March 5, 2025

    Accueil – Page 931743 – SO FOOT.com

    June 15, 2025

    HSBC sees silver benefiting from gold strength, lifts forecast

    August 13, 2025

    Cryptocurrency News Live: Dogecoin, Shiba Inu & Remittix Updates

    September 20, 2025
    What's Hot

    Misr Real Estate Assets Management introduces e-payment collection service

    August 11, 2024

    India bonds fall; 10-year yield hits 4-month high as fiscal worries sap demand

    August 18, 2025

    FIP Gold Dubaï – Joris et Godallier en quête de finale

    March 1, 2025
    Our Picks

    Digital currency: regulating Pakatan’s FinTech future

    March 17, 2025

    Could The Thursday Murder Club change how Britain thinks about retirement living?

    August 27, 2025

    5 Canadian Dividend Stocks to Buy and Hold for the Next 20 Years

    April 6, 2025
    Weekly Top

    OSU agricultural economy professor cites ‘black swan’ events behind industry’s bailout need

    October 8, 2025

    Gold’s Stratospheric Ascent Reinvigorates The Narrative For Sprott Precious Metal Mining ETFs – Barrick Mining (NYSE:B), Endeavour Silver (NYSE:EXK)

    October 8, 2025

    Cenovus Energy raises takeover offer for MEG Energy

    October 8, 2025
    Editor's Pick

    FIP Silver Metepec : Bergeron / Blanqué vise le titre face à Trabanco / Padilla

    April 12, 2025

    Fidelity Investments teste un stablecoin indexé sur le dollar

    March 26, 2025

    You can now get an exclusive Babymetal Metal Hammer issue with a limited edition variant cover

    August 1, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.