KNC

Kyber Network

On-chain data showed Buterin exchanged three altcoins for under $17,000 in USDC.

Vitalik Buterin Sells 1,400 UNI for 16,796 USDC, Also Moves 10,000 KNC and 400 Trillion DINU

Bunni, a multi-network decentralised exchange, was exploited for $2.4 million earlier today, forcing it to suspend operations as a countermeasure. According to the project team, the exploit was identified in its Ethereum-based smart contracts, prompting the project to immediately suspend all protocol functions across supported networks. “We have paused all smart contract functions on all networks. Our team is actively investigating and will provide updates soon. Thank you for your patience,” Bunni announced via a Sep. 1 X post. Looking at on-chain data , the wallet used in the exploit showed that attackers siphoned off about $2.4 million in stablecoins, including $1.33 million in USDC and $1.04 million in USDT. Yet, the picture may be grimmer than it first appears. Some estimates circulating among blockchain sleuths suggest the real losses could stretch well beyond that figure, with totals climbing upwards of $8 million. See below. AegisWeb3 @AegisWeb3 · Follow 🚨 Exploit AlertDEX @bunni_xyz on #Ethereum was hacked for ~$8.4M👉 Smart contracts on all chains have been paused as investigations continue. 1:20 pm · 2 Sept 2025 1 Reply Copy link Read 1 reply The stolen funds were then funnelled into two wallets, which is a familiar hallmark of coordinated DeFi exploits where liquidity is quickly consolidated. Attackers targeted Bunni’s liquidity logic As of press time, Bunni has yet to publish an official post-mortem of the incident, but developers and researchers who have begun preliminary reviews believe the attack stemmed from a flaw in Bunni’s Liquidity Distribution Function (LDF). Unlike other DEXs like Uniswap’s standard model, Bunni uses this mechanism to optimise returns by distributing liquidity across price ranges. According to Kyber Network co-founder Victor Tran, the attacker manipulated the curve by executing trades of very specific sizes that tricked the rebalancing logic into miscalculating how much each liquidity provider’s share was worth. In practice, this allowed the exploiter to repeat the process multiple times without triggering alarms, gradually draining the pool. Since no official post-mortem has been released, the community is waiting for clarity on whether this was an isolated coding oversight or a deeper architectural flaw. DeFi exploits continue to rattle crypto investors The incident also follows a string of vulnerabilities targeting emerging DeFi platforms. Just months earlier, Four.Meme , a memecoin launchpad built on BNB Chain, was targeted in back-to-back exploits in February and March. The March attack, carried out via a sandwich manipulation strategy, drained roughly $120,000, coming only weeks after a separate $183,000 loss. Across the market, exploit activity has become almost a regular ordeal. Over the past two months alone, the crypto industry has lost at least $300 million worth of funds. July alone saw hackers make off with around $142 million across 17 incidents , with Indian crypto exchange CoinDCX suffering the heaviest blow due to a $44 million breach. Losses climbed further in August to roughly $163 million spread across 16 separate incidents. The single largest came when a Bitcoiner fell prey to a social engineering ruse, surrendering 783 BTC worth $91 million. Turkish exchange Btcturk also reported a roughly $50 million loss, with the funds siphoned from its hot wallets the same month. The post Bunni DEX exploited for $2.4M as liquidity flaw forces shutdown appeared first on Invezz

Ethereum co-founder Vitalik Buterin recently transferred nearly $1 million in USDC stablecoin to his biotech fund, Kanro, on January 6, after selling a range of meme coins to support biotechnology research. According to on-chain data , Buterin swapped 28 different meme coins for $984,000 in USDC. These included tokens like CULT, DOGE, SHIB, and others referencing celebrities such as Elon Musk. The total transactions amounted to approximately $2.5 million, converted into USDC and ETH. The meme coins, sent unsolicited to Buterin’s publicly known wallet “vitalik.eth,” are often used by developers as marketing tools or tributes to the blockchain visionary. However, Buterin periodically liquidates these tokens to fund charitable endeavors, such as donations to his Kanro biotech fund, which he established in 2023. This organization focuses on advancing biotechnology research and other philanthropic causes. Vitalik Buterin’s On-Chain Transactions and Philanthropy Over the past several hours, Buterin has actively liquidated meme coins using platforms like CoW Swap, Uniswap, Kyber Network, and the cross-chain aggregator Odos. Vitalik Buterin ( @VitalikButerin ) sold several of his free #memecoins for $940.9K in $USDC and $ETH today! Notable sales include: • 70M $NEIRO → 74.1K $USDC • 63.1M $ESTEE → 69.8K $USDC • 46.5M $MARVIN → 69.2K $USDC • 500.2K $EBULL → 67.6K $USDC • 100K $MSTR → 61.5K… pic.twitter.com/VDWXID2xtG — Spot On Chain (@spotonchain) January 6, 2025 Some tokens, such as DOBE, were sold in large volumes, though their thin trading activity made the price impact unclear. One token, DINU, saw its value drop by 68% after Buterin exchanged it for USDC. Buterin appears to be consolidating profits to fund Kanro and other charitable initiatives. Recent transactions also show donations to RiseUp, a privacy-focused charity. In addition, his philanthropic efforts include previous contributions such as the sale of over $60 million worth of SHIB and other gifted tokens in 2021, with proceeds directed toward pandemic research, longevity initiatives, and AI development. Meme Coins and the Broader Impact of Buterin’s Wallet Buterin’s publicly visible wallet, associated with the vitalik.eth ENS name, holds nearly $1 billion in assets. His largest holding is over 240,000 ETH, valued at approximately $873 million, alongside derivative tokens from AAVE, WHITE tokens from the WhiteRock platform, and wrapped ETH. Beyond liquidating meme coins, Buterin has encouraged communities to form DAOs and make direct donations to charitable causes, tweeting: “Anything sent to me gets donated to charity, but I prefer if you donate directly,” In October 2024, Buterin’s sales of Popcat and other meme tokens generated $2.24 million in Ethereum, which was used for donations. Ethereum co-founder @VitalikButerin has converted meme coins worth $1.6 million into Ether set to be donated to various charitable causes. #VitalikButerin #Memecoin #Donation https://t.co/EdrzhBUQFm — Cryptonews.com (@cryptonews) October 14, 2024 He also contributed 10 million Thai Baht (approximately $290,000) to the Khao Kheow Open Zoo in Thailand to support the care of Moo Deng, an internet-famous hippo. Additionally, proceeds from meme coins like NEIRO and MOODENG have supported campaigns such as “Free Alexey & Roman,” aiding Tornado Cash developers facing trial in New York. Beyond philanthropy, Buterin continues to support Ethereum’s growth, recently endorsing Optimism’s SuperchainERC20 update to improve Ethereum’s scalability. He has also proposed reducing Ethereum’s staking requirement from 32 ETH to 16 ETH, with a long-term goal of lowering it to 1 ETH. The post Vitalik Buterin Liquidates $2.5M in Meme Coins to Fund Kanro Charity appeared first on Cryptonews .