Exploiting NEAR Intents with $3.8 million in losses
CoinDesk reported that the NEAR Intents cross-network trading system was exploited for $3.8 million. The system said it would compensate the losses after a malfunction affected deposits and withdrawals across multiple networks.
• The malfunction affected deposit and withdrawal operations across more than one network.
• The system announced its commitment to compensating the losses, without implying that compensation has been completed.
💧 Impact on the market and liquidity: The malfunction may affect users’ ability to move liquidity across the affected networks, given that deposits and withdrawals were impacted. The available information does not include data on the size of the affected liquidity flows.
🎯 Most affected: Cross-network trading systems.
Source: CoinDesk
#Crypto #Security
CoinDesk reported that the NEAR Intents cross-network trading system was exploited for $3.8 million. The system said it would compensate the losses after a malfunction affected deposits and withdrawals across multiple networks.
• The malfunction affected deposit and withdrawal operations across more than one network.
• The system announced its commitment to compensating the losses, without implying that compensation has been completed.
💧 Impact on the market and liquidity: The malfunction may affect users’ ability to move liquidity across the affected networks, given that deposits and withdrawals were impacted. The available information does not include data on the size of the affected liquidity flows.
🎯 Most affected: Cross-network trading systems.
Source: CoinDesk
#Crypto #Security