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NEAR Intents Hit with $3.8 Million Exploit, Reimbursing Affected Users

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NEAR Intents, a cross-chain crypto trading protocol, has fallen victim to a significant exploit, losing around $3.8 million in cryptocurrency. The attacker exploited a vulnerability in the protocol's Omni deposit and withdrawal infrastructure and its smart contract, causing the funds to be stolen. The protocol has suspended deposits and withdrawals across 11 blockchain networks, including BNB Chain, Polygon, and Optimism, while it investigates the incident.

NEAR Intents has stated that the vulnerability has been fixed and that it will fully reimburse users whose funds were stolen. The protocol is working with law enforcement and blockchain analytics firms to trace the stolen assets. The attacker moved the funds to KuCoin before bridging them to Bitcoin, according to blockchain investigator ZachXBT.

This exploit comes after NEAR Intents recently helped block a $50 million swap involving funds stolen from crypto exchange BitGet. NEAR Intents has processed over $30 billion in transaction volume across 35 blockchain networks.

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