NEAR Price Plunges Below $5.00 Amid Near Intents Exploit

Near Protocol's price slid below $5.00 on Thursday after an exploit affecting its Near Intents services, which handles deposits and withdrawals across multiple crypto networks.

The incident led to a loss of approximately $4 million, although the contract vulnerability has since been fixed, and normal operations are expected to resume today.

Near Intents announced that it would compensate all affected funds in full and reported the incident to law enforcement.