NEAR Intents Halted by $3.8M Attack, Team Covers Losses
Crypto swap platform NEAR Intents was attacked on Thursday, October 1, resulting in losses of approximately $3.8 million.
The team behind NEAR Intents reported that the attack occurred due to a security vulnerability stemming from an interaction between the Omni deposit and withdrawal infrastructure and the NEAR Intents smart contract.
The team said they would cover all losses and were working with law enforcement and blockchain analytics firms to trace the funds. An incident report detailing the attack is expected to be published in the coming days.
Deposits and withdrawals on 11 networks, including BSC, Polygon, and Optimism, have been halted due to the attack. The team expects these services to resume within about an hour of their announcement, but deposits and withdrawals will remain unavailable for approximately 12 more hours.