NEAR Intents Loses $3.8 Million in Security Breach
- Cross-chain protocol NEAR Intents reported a security breach resulting in the loss of $3.8 million.
- The breach was caused by a bug in the Omni deposit and withdrawal infrastructure interacting with NEAR Intents smart contract.
- NEAR Intents will fully compensate affected users, and the vulnerability has been patched to prevent future incidents.
- The incident has been reported to law enforcement, with efforts underway to trace and recover the funds.
- Funds from the hack were transferred to KuCoin and bridged to Bitcoin.
This incident follows NEAR’s assistance with the Bitget exchange, which recently suffered a $388 million breach, pushing Q3 crypto security losses past $1 billion.
NEAR Intents is blocking $50 million and freezing over $500,000 linked to this attack as part of their recovery efforts. (Source)
