NEAR Intents Recovers $3.8 Million Stolen in Security Breach
- NEAR Intents recovered approximately $3.8 million following a security breach detected on Thursday.
- The company identified the hacker and issued a 48-hour ultimatum for the return of the funds under “responsible disclosure.”
- General manager Alex Shevchenko confirmed that all stolen funds were returned, stating, “We are stopping the investigation.”
- The breach was attributed to a bug in the Omni deposit and withdrawal infrastructure interacting with NEAR Intents smart contract.
- Blockchain investigator ZachXBT reported that the stolen funds were transferred to KuCoin and bridged to Bitcoin.
This incident highlights vulnerabilities within cryptocurrency platforms and underscores the importance of security measures, as NEAR Intents has pledged full compensation to affected users.
The swift recovery of $3.8 million in user funds demonstrates effective crisis management by NEAR Intents following the breach.(Source)
