NEAR Intents Suffers $3.8M Security Breach

NEAR Intents has suffered a significant security breach, resulting in a loss of approximately $3.8 million. The exploit occurred due to a bug in its Omni deposit and withdrawal system, which interacted with the NEAR Intents smart contract.

The incident led to the temporary halt of several services, including cross-chain deposits and withdrawals. However, affected funds will be reimbursed in full by the protocol.

Several networks were impacted by the exploit, including BSC, Polygon, TON, Optimism, Avalanche, Stellar, Monad, LayerX, Adi, Scroll, and Plasma. These networks will continue to have their deposits and withdrawals blocked for approximately 12 hours until the infrastructure is patched up.

NEAR Intents has pledged full compensation for the losses incurred by users, with immediate financial loss minimized to around $3.8 million. A detailed incident report is expected in the next couple of days, which will shed light on the exploitation trajectory and vulnerable parts of the Omni ecosystem.