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Back|Bitget Hacker Attempted a $50 Million Attack Using Near Intents, SHIELD Blocked the System
Bitget Hacker Attempted a $50 Million Attack Using Near Intents, SHIELD Blocked the System
Developing
Uzman Coin·6 days ago·Tech·1 min read·

Bitget Hacker Attempted a $50 Million Attack Using Near Intents, SHIELD Blocked the System

Quick Look

  • The hacker group, which is suspected to be linked to North Korea, tried to transfer over $50 million of cryptocurrency funds seized from the Bitget exchange through the Near Intents protocol, but was blocked by Near's SHIELD risk detection system.
  • Attackers tried to launder $166,000 worth of cryptocurrency but failed; 500 thousand dollars were frozen.
  • Bitget initiated legal proceedings for the return of the funds and abandoned the reward offer.

AI-generated summary

Why It Matters

Bitget exchange had lost cryptocurrency in previous hacking attacks. Near Protocol has developed a protocol called Near Intents that facilitates blockchain interactions and has integrated a risk detection system called SHIELD on this protocol.

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Bitget hackers' attempts to use protocols that enable cryptocurrency exchange between different blockchains continue. The attackers, who are believed to be linked to North Korea, last tried Near Intents, but they were not successful. According to the information provided by Alex Shevchenko, the founder of Aurora, a blockchain infrastructure running on Near Protocol; Attackers attempted to transfer over $50 million of stolen funds through Near Intents.

"Shield" protected…

Near Intents' risk detection system called "SHIELD", or "Shield" in Turkish, had previously recorded addresses and suspicious money flows associated with hacking attacks. And when the cryptocurrencies coming from the registered addresses entered the system, protection came into play.

Despite this, the attackers managed to launder $166 thousand worth of cryptocurrency. $500 thousand worth of crypto money was frozen by the system.

They also gave up the award

A legal process was immediately initiated to return the seized $500 thousand to Bitget. The Near Intents team also gave up the award given by Bitget. Bitget CEO Gracy Chen also thanked the Near team for their help.

What to Watch

AI outlook — possibilities, not facts

  • Bitget will increase security measures post-hack and may require third-party audits.

    Likely · Within weeks

  • Near Intents can be adopted by other blockchain projects thanks to the success of the SHIELD system.

    Possible · Within months

Open Questions

  • ?It is not known exactly who the hackers are.
  • ?What is the probability of recovering seized funds?
  • ?Which specific addresses were marked as suspicious in the Near Intents system?

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This article was originally published by Uzman Coin.

Quick Look

  • The hacker group, which is suspected to be linked to North Korea, tried to transfer over $50 million of cryptocurrency funds seized from the Bitget exchange through the Near Intents protocol, but was blocked by Near's SHIELD risk detection system.
  • Attackers tried to launder $166,000 worth of cryptocurrency but failed; 500 thousand dollars were frozen.
  • Bitget initiated legal proceedings for the return of the funds and abandoned the reward offer.

AI-generated summary

Story signals

News tone
Sensitive
Emotional intensity
High
News value
High
Global impact
Global
Urgency
Developing
Follow-up likelihood
Likely
Relevance window
Days

Source & Reliability

Source
Uzman Coin
Story type
Hard news
Source quality
Full
Published
6 days ago
View original
bitget
near protocol
near intents
bitget
Alex Shevchenko
Gracy Chen
Near Protocol
Aurora
north korea
United States
near protocol
near intents
shield
north korea
cryptocurrency
hack

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