$3.8M Exploit Rocks NEAR Intents, Reaffirming Crypto Security Concerns

NEAR Intents, a cross-chain swap protocol operating on the NEAR ecosystem, suspended its services on October 1 after detecting an exploit that resulted in losses of approximately $3.8 million.

The team confirmed the incident through a post on X and stated that the affected funds will be fully reimbursed.

According to the team, the attack exploited a flaw in the way the Omni deposit and withdrawal system interacted with the protocol's smart contract.

The vulnerability was patched within hours, but deposits and withdrawals across 11 networks would remain blocked for approximately 12 additional hours while the fixes were completed.