NEAR Intents Hit by $3.8 Million Bug, Promises Full Compensation

NEAR Intents, a cross-chain protocol, has been hit by a bug that allowed an attacker to drain $3.8 million from its system.

The team behind NEAR Intents said they halted operations when they detected the security incident and identified a flaw in the Omni deposit and withdrawal infrastructure interaction with their smart contract.

According to blockchain data, about 3.87 million USDT left a contract on BNB Chain within six hours. The funds were sent to various addresses, including one that processed withdrawals for the CoW Protocol, a decentralized trading protocol.

The NEAR Intents team said they will compensate the full amount lost and have notified law enforcement and brought in security and blockchain analytics firms to help recover the stolen funds.