The cross-chain protocol NEAR Intents confirmed a security breach resulting in the loss of $3.8 million in user funds. The incident occurred due to a bug in the Omni deposit and withdrawal infrastructure that interacted with the protocol's smart contract.
NEAR Intents stated that the vulnerability has been patched. The platform committed to fully compensating all affected users. The company has reported the breach to law enforcement and is collaborating with blockchain analytics partners to trace the stolen assets.
Blockchain investigator ZachXBT reported that the stolen funds were moved to the KuCoin exchange and bridged to Bitcoin. The identity of the attackers remains unknown at this time.
The breach occurred shortly after NEAR Intents assisted the Bitget exchange following a separate $388 million security incident. During that event, NEAR Intents blocked $50 million and froze over $500,000 in assets linked to the Bitget hack.
