NEAR Intents recovers $3.8 million following security incident

NEAR Intents, a cross-chain transaction protocol, has announced the full recovery of approximately $3.8 million in user funds following a security incident on October 1. The vulnerability originated from an interaction error between Omni's deposit and withdrawal infrastructure and the NEAR Intents smart contract.

General Manager Alex Shevchenko stated that the team identified the individual involved and issued a 48-hour ultimatum, providing return addresses across Bitcoin, BNB Chain, Ethereum, and Solana. Following this deadline, the funds were returned in full. A message accompanying the transaction acknowledged the error and suggested that future vulnerabilities should be reported through bug bounty programs rather than exploited.

While the direct financial loss has been mitigated, the NEAR token has seen a recent decline of nearly 7% over the past week, underperforming the broader crypto market. The team has concluded its investigation into the incident and emphasized the importance of responsible disclosure and bug bounty participation to prevent future service disruptions.