NEAR INTENTS GET HACKED FOR 3.8 MILLION USD—ARE FELLOW NEAR HOLDERS STILL OK?
NEAR Intents was just exploited for a vulnerability, with estimated damages of about $3.8 million, causing the NEAR price to drop sharply within a few hours.
What’s important to distinguish is that the NEAR Protocol itself was not hacked. The issue lies in the deposit/withdrawal infrastructure and smart contracts of NEAR Intents—meaning the application layer within the ecosystem.
The team says the bug has been patched. Deposit/withdrawal activities on certain networks such as BSC, Polygon, TON... will be temporarily paused for around 12 hours, and affected users will be reimbursed.
Notably, the incident happened just a few days after Bitwise launched the NEAR ETF in the US, so the market reaction has drawn even more attention.
Are you guys with $NEAR still okay?
Not investment advice.
NEAR Intents was just exploited for a vulnerability, with estimated damages of about $3.8 million, causing the NEAR price to drop sharply within a few hours.
What’s important to distinguish is that the NEAR Protocol itself was not hacked. The issue lies in the deposit/withdrawal infrastructure and smart contracts of NEAR Intents—meaning the application layer within the ecosystem.
The team says the bug has been patched. Deposit/withdrawal activities on certain networks such as BSC, Polygon, TON... will be temporarily paused for around 12 hours, and affected users will be reimbursed.
Notably, the incident happened just a few days after Bitwise launched the NEAR ETF in the US, so the market reaction has drawn even more attention.
Are you guys with $NEAR still okay?
Not investment advice.
