NEAR Price Plummets Below $5 After $3.8M Exploit
NEAR's price plummeted below $5 on October 1 after a reported $3.8 million exploit involving NEAR Intents, with the token trading near $4.94.
The incident was caused by a bug in the interaction between NEAR Intents' Omni deposit and withdrawal system and the platform's smart contract.
NEAR Intents' team paused services, patched the contract-side vulnerability, and committed to reimbursing affected funds in full.
The price fell 7.55% in a single day, with a daily high of $5.54 and a low of $4.742, according to TradingView's Binance daily chart.
The Murrey Math indicator places NEAR below its $5.078 overshoot level, with nearby hurdles for a recovery at $4.688 and $4.297.
Analysts watch the breakout retest as NRR enters U.S. markets, with some expecting a retest of the former downtrend as support.