NEAR Intents Recovers Stolen $3.8M After Ultimatum to Hacker
NEAR Intents has successfully recovered its stolen $3.8 million after issuing an ultimatum to the exploiter.
The funds were siphoned off during a security breach on Thursday, prompting NEAR Intents to pause services and compensate affected users in full.
In a bid to recover the stolen funds, NEAR's general manager Alex Shevchenko gave the hacker 48 hours to return the money under 'responsible disclosure'. The deadline expired on Friday, but the funds were returned shortly after.
The investigation was halted once the funds were recovered, with Shevchenko urging hackers to use bug bounties instead of disrupting services. The incident involved a 'bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract', resulting in $3.8 million being transferred to the KuCoin exchange and bridged to Bitcoin.