NEAR Intents Hit by $3.8M Exploit, Pauses Cross-Chain Services in Latest Crypto Hack
The protocol said the contract flaw is fixed and that 11 networks will stay paused for about 12 more hours during repairs.
- On Thursday, NEAR Intents announced a $3.8 million loss from a security exploit and committed to full reimbursement for all affected users across its cross-chain trading protocol.
- The team traced the unauthorized withdrawals to a bug in the Omni deposit and withdrawal infrastructure interaction with the NEAR Intents smart contract, causing the protocol to halt operations.
- Onchain investigator ZachXBT identified a BNB Chain address that collected about 3.87 million USDT; about 1.5 million went to CoW Protocol settlement contract, with the remainder sent to unidentified accounts.
- Deposits and withdrawals were suspended across 11 networks, including Polygon and Avalanche, for roughly 12 hours while the team repaired the compromised Omni infrastructure.
- General Manager Alex Shevchenko recently reported attackers attempted to push over $50 million from the Bitget hack through the protocol, with roughly $166,000 slipping through before the team published fuller details.
13 Articles
13 Articles
NEAR Price Slides 13% as Exploit Claims Rattle Sentiment
The post NEAR Price Slides 13% as Exploit Claims Rattle Sentiment appeared first on Coinpedia Fintech News NEAR price has taken a sharp hit on October 1, falling 13% in a single day after a powerful run that began in February. The token broke out in September and reached $5.50, but today’s selloff has changed the tone quickly. The rally had serious momentum. Still, overheated RSI made a cooldown unsurprising, especially after …
NEAR Intents estimated a $3.8 million loss due to the Omni infrastructure error; deposits and withdrawals were suspended on 11 networks, and fund tracking is ongoing.
NEAR Intents stopped its services after a failure in the interaction between its Omni deposit and withdrawal infrastructure and an intelligent contract resulted in estimated losses of $3.8 million. The team assured that it will fully cover the affected funds and redressed the vulnerability, although deposit and withdrawal operations in 11 networks would have to wait about 12 hours longer.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
