NEAR Token Drops 10% After $3.8M Exploit Hits NEAR Intents

A $3.8 million exploit hit NEAR Intents just days after Bitwise opened its US ETF to investors, leaving the token's value to drop 10% to $4.86.

The incident occurred less than two days after the launch of the $NEAR ETF, which attracted $35.5 million in net inflows on its first day and had cumulative inflows reach over $50 million by September 30th.

The team behind NEAR Intents said it temporarily halted services after detecting a bug in the interaction between its Omni infrastructure and the Intents smart contract, and that it would fully compensate affected users.