NEAR Intents Recovers Stolen $3.8M After Ultimatum to Hacker

NEAR Intents, a platform built on the NEAR blockchain, has successfully recovered all $3.8 million stolen in a security breach that occurred on Thursday.

According to Cointelegraph's previous report, NEAR Intents identified the individual behind the security breach and issued an ultimatum, giving them 48 hours to return the funds under 'responsible disclosure.'

General manager Alex Shevchenko announced the complete recovery of the funds in a post on X, stating that 'The funds from the $3.8M NEAR Intents hack were sent back in full.' He further added that the investigation was being stopped and encouraged users to explore bug bounties instead of disrupting services.

The security breach occurred when a 'bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract' was detected, resulting in $3.8 million in user funds being stolen. NEAR's preliminary investigation found that the funds were transferred to the KuCoin exchange and bridged to Bitcoin.

Users affected by the incident will be fully compensated, as previously pledged by NEAR Intents.