$3.8M Security Breach Hits NEAR Intents Cross-Chain Exchange

NEAR Intents, a cross-chain cryptocurrency exchange protocol, suffered a significant security breach on October 1, resulting in approximately $3.8 million in stolen digital assets.

The vulnerability originated from a flaw in the Omni deposit and withdrawal mechanism's interaction with NEAR Intents' smart contract infrastructure, which failed to properly communicate, leaving an exploitable weakness.

Operations were immediately suspended, with deposit and withdrawal functions frozen across eleven different blockchain ecosystems. The platform has committed to providing complete compensation to all users who experienced losses.

The incident's timing also impacted the NEAR token, which declined by approximately 6% to 6.7% during the twenty-four hour period after the breach became public.