NEAR Intents Blocks Hack-Linked Transfers, Sparks Cross-Chain Laundering Debate

The recent $387.5 million hack of Bitget has put pressure on cross-chain protocols to stop illicit flows, and NEAR Intents is taking steps to address this issue.

According to a statement from Alex Shevchenko, general manager of NEAR Intents, the protocol's SHIELD system detected and blocked more than $50 million in attempted transfers linked to the exploit. This includes $503,000 that was frozen during execution, with around $166,000 passing through the protocol.

NEAR Intents has declined Bitget's 5% bounty for freezing funds, opting instead to allow more money to be returned through legal procedures. Shevchenko argued that open systems should not remain neutral if it means helping criminals monetize hacked funds.

The move comes as THORChain faces calls to block addresses linked to the attack, with Bitget CEO Gracy Chen urging the protocol to refuse services to wallets tied to the exploit. Circle and Tether have also blacklisted a wallet linked to the Bitget exploiter, freezing $318,013 worth of USDT and USDC.