NEAR Intents Blocks $50M in Bitget Hack-Linked Transfer Attempts

Near Intents' SHIELD security system identified and blocked over $50 million in attempted transfers linked to the Bitget hack, according to a recent post by NEAR Intents General Manager Alex Shevchenko. The intervention came after the September 24 Bitget security breach, which resulted in an estimated $387.5 million in stolen assets.

The attackers moved portions of the funds across multiple blockchains in an effort to convert and transfer the assets. SHIELD identified more than $50 million in attempted transfers associated with wallets linked to the Bitget attacker, but these transactions were rejected and routed towards other service providers.

About $166,000 in suspected stolen funds still passed through the protocol, while approximately $503,000 was frozen during the execution of suspicious swaps. NEAR Intents will waive its recovery bounty offered by Bitget, allowing more of the recovered funds to remain available to the exchange.