NEAR Intents | Crypto

The exploiter returned the entire sum to NEAR Intents after being identified and given 48 hours to respond. NEAR Intents said it has recovered about $3.8 million stolen during a Thursday security breach. Cointelegraph reported on Friday that NEAR Intents had identified the individual behind the security breach and given them 48 hours to return the funds under “responsible disclosure.” NEAR Intents general manager Alex Shevchenko announced the complete return of funds later on Friday. Read more

“We have identified you, sir,” NEAR Intents general manager Alex Shevchenko said on Friday after the protocol was hacked for $3.8 million. NEAR Intents said it has identified the individual behind a security breach that resulted in the loss of $3.8 million in user funds on Thursday, giving them 48 hours to return the funds under “responsible disclosure.” “We have identified you, sir,” NEAR Intents general manager Alex Shevchenko said in an X post on Friday, as he shared three different wallet addresses to receive Bitcoin, BNB and Solana. On Thursday, NEAR Intents paused services after detecting a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.”  Read more

The platform said it will compensate users affected by the hack, which stemmed from a bug that affected deposits and withdrawals. Cross-chain protocol NEAR Intents reported a security breach that resulted in the loss of $3.8 million in user funds. In a Thursday X post, the protocol said that the incident was the result of a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.” NEAR said that it would compensate users in full for the lost funds, and the “contract-side vulnerability has been patched” to prevent similar attacks. “The incident has been reported to law enforcement, and we are working with security and blockchain analytics partners to trace the funds and pursue recovery,” said the platform. “A detailed report will be shared publicly in the following days.” Read more

The cross-chain protocol said it actively prevents stolen funds from being laundered, drawing a contrast with THORChain’s position that it does not selectively censor transactions. NEAR Intents said it blocked more than $50 million in attempted transfers linked to the Bitget hack.  Attackers stole $387.5 million from Bitget on Thursday. A significant portion of these funds moved across chains to Ethereum, according to Alex Shevchenko, general manager of NEAR Intents, a protocol that lets users swap crypto assets across blockchains.  Shevchenko said its SHIELD system detected and blocked more than $50 million in attempted transfers, which subsequently went to other providers. It managed to freeze $503,000 in funds during execution, while around $166,000 in suspected stolen funds passed through. Read more