The NEAR Intents platform reported a hacking attack resulting in $3.8 million in user losses. On Thursday, in a post on X, the protocol indicated that the incident was due to an "error in the interaction of the Omni deposit and withdrawal infrastructure with the NEAR Intents smart contract." The platform stated that it would compensate users for all lost funds, and the vulnerability in the smart contract has been fixed to prevent similar attacks. "The incident has been reported to law enforcement, and we are working with security and blockchain analytics partners to trace the funds and take steps to recover them," the platform reported. "A detailed report will be published in the coming days." According to blockchain analyst ZachXBT, the funds from the incident were transferred to the KuCoin exchange and converted into Bitcoin. At the time of publication, it remained unclear who was behind the hacking attack, although it was speculated that organized criminal groups could be involved.
The attack occurred after the protocol assisted the Bitget exchange, which suffered a hacking attack amounting to $388 million last week. NEAR Intents reported blocking $50 million and freezing over $500,000 in funds related to the attack. Bitget CEO Gracy Chen suggested that North Korean hackers might have been involved in the attack. These events highlight the relevance of security issues in the crypto space and the need for increased monitoring of user actions and protocol operations in a rapidly changing threat landscape.
In the face of constant threats from cybercriminals, it is crucial that resources and technologies for protection are top-notch. Software errors and vulnerabilities can cost millions, as demonstrated by recent events with NEAR Intents and Bitget. The platform plans to disclose additional details and its further action plan to strengthen security in the future, which will undoubtedly interest not only affected users but also a broader range of cryptocurrency market participants. Analysts and cybersecurity experts will also be attentive to this situation to learn lessons and strengthen protective measures in the digital asset sectors.
Related articles
