Cross-Chain Attack Highlights Need for Multilayer Security in Crypto

A recent security incident involving NEAR Intents has shed light on the complexities of cross-chain attacks. On October 1, an attacker drained $3.87 million in USDT from a BNB Chain vault linked to NEAR Intents through five major withdrawals.

Investigators found that about 76% of the stolen value was moved into Bitcoin, with roughly $802,000 reaching KuCoin deposit addresses. The attack highlights the need for securing not just blockchain networks but also cross-chain infrastructure.

The attacker, who appears to have prepared in advance, first tested the withdrawal path with small transactions before making the major withdrawals. This approach is a common security problem beyond crypto: systems designed to detect unusually large transactions can miss tiny transactions being used to test whether an exploit is viable.