$3.8M Bug Hits NEAR Intents, Funds Already Transferred
NEAR Intents, a decentralized finance (DeFi) platform, has suffered a significant loss due to a bug in its Omni deposit and withdrawal infrastructure. The incident resulted in an estimated $3.8 million loss, which was exploited almost immediately after the bug was discovered on Thursday morning.
The team behind NEAR Intents says that every dollar lost will be compensated, but the affected funds have already been moved across various crypto networks. According to onchain investigator ZachXBT, the stolen funds were first transferred to Kucoin and then bridged to Bitcoin.
As a result of the bug, several networks remain temporarily cut off while repairs continue. NEAR Intents estimates that its core services will resume within an hour, but deposits and withdrawals involving BSC, Polygon, TON, Optimism, Avalanche, Stellar, Monad, LayerX, Adi, Scroll, and Plasma are expected to remain unavailable for about 12 additional hours.
The team has reported the incident to law enforcement and brought in security and blockchain analytics partners to trace the missing funds. A detailed report is promised in the coming days.