NEAR Intents recovers $3.8 million following security exploit

NEAR Intents has successfully recovered the full $3.8 million stolen during a security breach that occurred on October 1. The exploit was traced to a communication error between the platform’s deposit/withdrawal infrastructure and its smart contract.

Following the incident, the NEAR Intents team identified the perpetrator and issued a 48-hour ultimatum, offering the individual a chance to treat the return as a “responsible disclosure.” The exploiter complied, returning all funds before the deadline. Notably, the on-chain transaction included a message from the attacker admitting fault, thanking the team for their professional conduct during negotiations, and suggesting the use of bug bounty programs.

General Manager Alex Shevchenko confirmed the complete recovery and announced the closure of the internal investigation. The incident highlights ongoing debates in decentralized finance regarding the balance between permissionless protocols and active security interventions to prevent the movement of illicit funds.