Crypto
NEAR Intents Compensates Users After Suffering $3.8M Security Breach
A recent security breach at cross-chain protocol NEAR Intents resulted in the loss of $3.8 million in user funds.
The incident occurred after NEAR Intents assisted the Bitget exchange, which suffered a $388 million security breach last week.
NEAR Intents reported blocking $50 million and freezing more than $500,000 in funds tied to the attack on Bitget. The protocol's CEO Gracy Chen speculated that North Korean hackers may have been responsible for the Bitget breach.
The NEAR Intents breach was caused by a 'bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.'