Near Blocks $50M in Attempted Transfers Linked to Bitget Hack

Near Protocol's NEAR Intents system blocked over $50 million in attempted transfers linked to the Bitget hack, which saw attackers steal $387.5 million on Thursday.

A significant portion of the stolen funds moved across chains to Ethereum, according to Alex Shevchenko, general manager of NEAR Intents.

The SHIELD system detected and blocked more than $50 million in attempted transfers, which subsequently went to other providers. It managed to freeze $503,000 in funds during execution, while around $166,000 in suspected stolen funds passed through.

Near Protocol's NEAR Intents said it will forego the 5% bounty offered by Bitget for freezing attacker funds and an additional 5% for their recovery, allowing more funds to be returned to Bitget.