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NEAR Protocol Price Plummets 8.3% After Exploit on Cross-Chain Engine

Guavy AI Editorial Team
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USDT NEAR
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The NEAR Protocol price plummeted by 8.3% after an exploit drained over $3.8 million from its cross-chain engine, NEAR Intents.

The incident occurred when a bug in the Omni deposit and withdrawal system allowed hackers to siphon off USDT on BSC.

According to co-founder Illia, the flaw was isolated to USDT on BSC, and SHIELD, the project's AI-driven outlier-detection layer, caught the strange activity and paused Intents before things got worse.

The team has promised full reimbursement to every affected user, and core services were expected back online within an hour of the announcement.

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