NEAR Protocol Price Drops 8% After $3.8M Hack of NEAR Intents Trading Service
The NEAR Protocol price dropped by about 8% to $4.91 on Thursday following a $3.8 million hack of NEAR Intents, a cross-chain trading service.
The incident occurred on October 1 and forced the team to suspend operations while they investigated the vulnerability.
NEAR Intents attributed the loss to an integration bug involving its Omni deposit and withdrawal infrastructure, which it has since patched.