NEAR Intents Hit with $3.8M Loss After Smart Contract Bug

NEAR Intents has confirmed a security incident that resulted in approximately $3.8 million in losses after a bug was discovered in its smart contract.

The platform, which offers multichain execution and settlement protocol built around intent-based transactions, reported the issue on X on October 1st.

The team stated that the bug affected how the Omni deposit and withdrawal infrastructure interacted with its smart contract, leading to the losses.

NEAR Intents assured users that they would fully compensate the affected funds and provided a plan for users holding assets from affected networks to swap them into other supported tokens once the platform is back online.