NEAR Intents Hacked for $3.8M, Prompting Swift Response
- An attacker exploited NEAR Intents, stealing approximately $3.8 million.
- The vulnerability was in the layer managing money transfers and its communication with the main contract.
- ZachXBT traced the stolen funds to KuCoin, where they were converted to Bitcoin.
- NEAR Intents paused services briefly but patched the issue and resumed core operations within an hour.
- Every affected user will be compensated fully for their losses.
The hack on NEAR Intents resulted in a $3.8 million loss due to a flaw in its transaction layer, quickly addressed by halting services and patching the system within an hour, ensuring minimal disruption and promising full compensation to users.
Despite the breach, NEAR’s swift response minimized damage compared to other incidents, showcasing effective crisis management by promptly addressing vulnerabilities and cooperating with law enforcement. Source
