NEAR Intents hit by $3.8 million exploit as crypto’s rough year of hacks continues
The popular cross-chain trading system said it will reimburse losses after a bug affected deposits and withdrawals across several networks.
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Summary
- NEAR Intents suffered a security exploit Thursday that caused about $3.8 million in losses and prompted the cross-chain trading platform to pause services and restrict deposits and withdrawals on several blockchains.
- The project attributed the exploit to a bug involving its Omni system and smart contract, said the vulnerability had been patched and pledged to reimburse affected funds in full.
- NEAR Intents reported the incident to law enforcement and enlisted security firms to trace funds that an investigator said were sent to KuCoin and converted into bitcoin.
