NEAR Intents Reports $3.8M Exploit After Bitget Response
NEAR Intents reported a $3.8 million exploit tied to a bug in its Omni deposit and withdrawal system after helping Bitget respond to a separate breach.
Cross-chain protocol NEAR Intents suffered a $3.8 million exploit after a bug in the interaction between its Omni deposit and withdrawal infrastructure and its smart contract enabled the loss of user funds.
The protocol disclosed the incident in a Thursday post on X. It reported that the contract vulnerability had been patched and committed to fully compensating users for the stolen funds.
“The incident has been reported to law enforcement, and we are working with security and blockchain analytics partners to trace the funds and pursue recovery,” NEAR Intents wrote. The protocol plans to publish a detailed report in the coming days.
Blockchain investigator ZachXBT tracked the stolen funds to the KuCoin exchange, after which they were bridged to the Bitcoin network. The attacker’s identity was unknown at the time of publication.
The exploit followed NEAR Intents’ assistance to Bitget after a separate security breach. Bitget reported a $388 million loss the previous week. NEAR Intents reported blocking $50 million and freezing more than $500,000 linked to that attack.
Bitget CEO Gracy Chen speculated that North Korean hackers may have been responsible for the exchange breach. No attribution had been established for the NEAR Intents exploit.
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