NEAR Intents Resumes Service After $3.8M USDT Exploit

The NEAR Intents service has resumed operations after a $3.8 million exploit on USDT on the Binance Smart Chain (BSC), with co-founder Illia Polosukhin promising full compensation for affected users.

The exploit occurred when the attacker took advantage of a bug in the interaction between Omni's deposit and withdrawal infrastructure and the NEAR Intents smart contract.

Polosukhin stated that the team identified and fixed the vulnerability within an hour of detection.

The core NEAR Protocol, NEAR token, and other applications were unaffected by the incident, according to Polosukhin.

NEAR Intents and near.com have returned online, although some affected chains remain restricted.

Polosukhin emphasized the importance of stronger contract standards, monitoring, and preventive measures in light of recent attacks targeting Bitget, MetaMask, and Lido.