NEAR Intents Suffers $3.8 Million Hack; Full Compensation Promised After Vulnerability Patch

Cross-chain trading platform NEAR Intents disclosed on the 1st (local time) that it suffered approximately $3.8 million ( 5.2 billion won) in losses from a security vulnerability exploit. The company stated it has completed patching the vulnerability and plans to fully compensate the affected funds.

The incident occurred on Thursday. NEAR Intents explained that the root cause was a bug in the interaction between its Omni deposit/withdrawal system and smart contracts. The exploit forced the platform to temporarily suspend services and restrict deposits and withdrawals across multiple blockchains.

NEAR Intents operates on a structure where users specify their desired swap rather than directly selecting bridges, exchanges, or routes, and independent market makers called "solvers" competitively complete transactions behind the scenes. According to the platform's website, it has processed over $30 billion (approximately 40.9 trillion won) in trading volume across 35 blockchains to date.

NEAR, the native token of the NEAR Protocol, was trading at $4.9444, down approximately 6% over the past 24 hours at the time of the disclosure. However, the vulnerability that was revealed was related to cross-chain infrastructure rather than the underlying blockchain itself.

Blockchain investigator ZachXBT stated that the attack began with an abnormal withdrawal from a BNB Chain hot wallet linked to NEAR Intents. He explained that the stolen funds were transferred to the cryptocurrency exchange KuCoin and then bridged to Bitcoin (BTC).

NEAR Intents reported the incident to law enforcement and is working with security and blockchain analytics firms to trace the funds. Core services are expected to resume quickly, but deposits and withdrawals across several networks will remain suspended for a longer period until remediation work is completed. The status page indicated that BNB Smart Chain, Polygon, TON, Optimism, Avalanche, Stellar, Monad, X Layer, ADI, Scroll, and Plasma were among those affected.

This incident occurred amid a wave of security breaches in the cryptocurrency industry. Last week, exchange Bitget suffered an attack in which more than $350 million (approximately 480 billion won) in assets were stolen. According to DefiLlama data, Liquid Network recorded losses of approximately $320 million ( 440 billion won), Drift approximately $295 million ( 400 billion won), and Kelp approximately $293 million ( 400 billion won), marking them as major incidents.

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