There’s a rather ironic detail about the NEAR Intents incident involving the theft of $38 million.
Just a few days ago, its SHIELD risk-control system had already stopped a hacker from the Bitget theft case: the attacker tried to transfer more than $50 million through it, which was frozen by about $503,000, with roughly $166,000 slipping through (Cryptopolitan).
Then on 10/1, a bug appeared at the place where its own Omni deposit/withdrawal facilities and the Intents contract were handed over—leaving a hot wallet drained.
Both components were functioning normally; the problem lay in the “handover” step.
After the fact: the vulnerability was patched the same day, and deposits and withdrawals across 11 chains were paused for about 12 hours; they committed to full reimbursement, have reported the incident to the authorities, and a post-incident review said a report would be released within a few days.
Scale comparison: NEAR Intents previously had cumulative trading volume of about $31 billion and funds locked of about $234 million. This loss is roughly 1.6% of the locked amount.
$NEAR is now around 4.90, and the lowest it hit on the day of the incident was 4.74. The next two things to watch are the post-incident report and the reimbursement funds arriving.
Just a few days ago, its SHIELD risk-control system had already stopped a hacker from the Bitget theft case: the attacker tried to transfer more than $50 million through it, which was frozen by about $503,000, with roughly $166,000 slipping through (Cryptopolitan).
Then on 10/1, a bug appeared at the place where its own Omni deposit/withdrawal facilities and the Intents contract were handed over—leaving a hot wallet drained.
Both components were functioning normally; the problem lay in the “handover” step.
After the fact: the vulnerability was patched the same day, and deposits and withdrawals across 11 chains were paused for about 12 hours; they committed to full reimbursement, have reported the incident to the authorities, and a post-incident review said a report would be released within a few days.
Scale comparison: NEAR Intents previously had cumulative trading volume of about $31 billion and funds locked of about $234 million. This loss is roughly 1.6% of the locked amount.
$NEAR is now around 4.90, and the lowest it hit on the day of the incident was 4.74. The next two things to watch are the post-incident report and the reimbursement funds arriving.