NEAR Intents announced that it has identified the hacker responsible for stealing $3.8 million and has given them 48 hours to return the funds. NEAR Intents CEO Alex Shevchenko reported this in a post on X on Friday, emphasizing that the possibility of "responsible disclosure" is at stake. He provided three different wallet addresses for receiving Bitcoin, BNB, and Solana. According to Shevchenko, "You know better than most how responsible disclosure works—this is the last window to take advantage of it. In 48 hours, this window will close." NEAR Intents suspended operations after discovering an issue in the Omni interaction infrastructure for deposits and withdrawals with the NEAR Intents smart contract on Thursday.
Preliminary investigation revealed that $3.8 million of user funds were stolen in the attack, and the company has promised to fully compensate affected users. Blockchain analyst ZachXBT reported that the stolen funds were transferred to the KuCoin exchange and then converted into Bitcoin. NEAR Intents is firmly committed to recovering the funds and will continue to work on improving the security of its platform to prevent similar incidents in the future. It is important to note that such breaches highlight the presence of vulnerabilities in cryptocurrency systems, posing challenges to ensuring trust from users and investors.
Alex Shevchenko added that NEAR Intents uses state-of-the-art technology to strengthen the security of its infrastructure and ensure the protection of user assets. The company intends to conduct additional audits and investigations to enhance security levels and minimize risks. This incident serves as a reminder of the importance of a responsible approach to vulnerability disclosure and the need for collaboration between projects and security researchers to create a safer crypto space.
Related articles
