NEAR Intents Hacked for $3.8 Million, Token Price Plummets

NEAR Protocol's cross-chain swap service, NEAR Intents, suffered a significant loss of around $3.8 million due to a bug in its Omni deposit and withdrawal system interaction with the NEAR Intents smart contract.

The exploit occurred on Thursday, and the NEAR token price dropped by 8.6% within hours, although the underlying blockchain was not directly targeted.

NEAR Intents has promised a full technical report in the coming days, and the team has also reported the incident to law enforcement.

Despite the hack, the NEAR token price has been climbing, reaching $4.92 at press time, with a market value near $6.4 billion.