$3.8M Exploit Hits NEAR Intents Cross-Chain Trading Protocol

NEAR Intents, a cross-chain trading protocol, has suffered a security breach that led to approximately $3.8 million in losses. The team detected the issue on October 1 and halted the platform's services before restoring them once the flaw was patched.

The incident occurred due to a bug in how its Omni deposit and withdrawal system interacted with the NEAR Intents smart contract, allowing an attacker to drain funds before the team could respond. The preliminary loss estimate stands at around $3.8 million, but affected users will be fully compensated.

NEAR co-founder Illia Polosukhin confirmed that NEAR Intents and its website were back online, although services on a few affected networks remained restricted. He emphasized that the exploit's impact was confined solely to USDT on BNB Smart Chain (BSC), and the underlying blockchain, including the native token NEAR, was unaffected.