AI · CoinDesk
Blockchain protocol NEAR Intents was hit by a security exploit that caused about $3.8 million in losses Thursday
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The project said the incident was caused by a bug in the way its Omni deposit and withdrawal system interacted with the NEAR Intents smart contract.
Key facts
- Other major incidents included Liquid Network at about $320 million, Drift at $295 million and Kelp at $293 million, according to DefiLlama data
- NEAR NEAR $4.8948, the native token of the blockchain closely associated with NEAR Intents, was down about 6% over the past 24 hours at the time of writing, though the disclosed vulnerability
- The platform’s website said it has processed more than $30 billion in volume across 35 blockchains
- Blockchain protocol NEAR Intents was hit by a security exploit that caused about $3.8 million in losses Thursday, forcing the platform to pause services and temporarily disable deposits
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.