NEAR Intents Hacked for $3.8 Million in Cross-Chain Exploit

NEAR Intents, a cross-chain crypto trading platform, fell victim to an exploit that resulted in losses of approximately $3.8 million on Thursday.

The bug was caused by an issue with the Omni deposit and withdrawal system interacting with NEAR Intents' smart contract.

In response, the platform paused its services and disabled deposits and withdrawals on eleven blockchain networks, including BNB Smart Chain, Polygon, Optimism, and others.

NEAR Intents has pledged to reimburse all affected users in full and is working with law enforcement agencies to investigate the incident.

The stolen funds were eventually bridged into Bitcoin through the crypto exchange KuCoin.