NEAR Intents Hacker Returns $3.8M After Negotiations

The NEAR Intents protocol faced a hack that resulted in losses of $3.8 million, but the attacker has since returned all the stolen funds. The incident occurred on Thursday when NEAR Intents spotted what it called a bug in its Omni deposit and withdrawal infrastructure, leading to user losses.

NEAR Intents works by allowing users to state their desired trade outcome, which is then handled by independent market makers known as solvers. This approach has reportedly processed over $30 billion in volume across 35 blockchains.

The hack was limited to USDT on the BNB Smart Chain, with the NEAR token and other apps on the network remaining unaffected. Despite this, NEAR's price slipped around 6% after the news broke, trading near $4.95 before settling at $4.81.