NEAR Intents Pledges Full Compensation After a Bug Lets an Attacker Drain $3.8 Million
By Unchained
AI summary of the source article
Cross-chain trading protocol NEAR Intents reported a security incident that led to an approximate $3.8 million loss. The team traced the exploit to a bug in how its Omni deposit and withdrawal infrastructure interacts with its smart contract. In response, NEAR Intents halted operations, repaired the contract-side issue, and pledged to compensate the missing funds in full. Deposits and withdrawals across 11 networks were paused for about 12 hours while infrastructure fixes concluded. The team notified law enforcement and enlisted security and analytics firms to track the drained USDT, part of which was routed through CoW Protocol.
Why it matters
The incident forced a temporary halt of deposits and withdrawals across 11 blockchain networks, though the protocol pledged to absorb the entire $3.8 million loss.
Key facts
- NEAR Intents lost roughly $3.8 million due to a bug in its Omni deposit and withdrawal infrastructure.
- The protocol pledged that the lost funds will be compensated in full.
- Deposits and withdrawals across 11 networks, including BNB Chain and Polygon, were paused for roughly 12 hours.