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Back|NEAR Intents recovers $3.8 million following security breach
NEAR Intents recovers $3.8 million following security breach
NEWS
Cointelegraph·4 hours ago·Business·1 min read

NEAR Intents recovers $3.8 million following security breach

Quick Look

  • NEAR Intents has successfully recovered $3.8 million in user funds stolen during a recent security breach.
  • The platform's general manager, Alex Shevchenko, confirmed the full return of assets after issuing a 48-hour ultimatum to the identified attacker.

AI-generated summary

Why It Matters

NEAR Intents paused services after detecting a bug in the Omni deposit and withdrawal infrastructure interaction with its smart contract.

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NEAR Intents said it has recovered about $3.8 million stolen during a Thursday security breach.

Cointelegraph reported on Friday that NEAR Intents had identified the individual behind the security breach and given them 48 hours to return the funds under “responsible disclosure.”

NEAR Intents general manager Alex Shevchenko announced the complete return of funds later on Friday.

“The funds from the $3.8M NEAR Intents hack were sent back in full,” Shevchenko wrote on X. “We are stopping the investigation. Please use bug bounties instead of disrupting the services.”

As Cointelegraph reported, NEAR Intents paused services after detecting a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.”

NEAR’s preliminary investigation found that $3.8 million in user funds was stolen, and it pledged to compensate affected users in full.

Blockchain investigator ZachXBT said the funds from the incident were transferred to the KuCoin exchange and bridged to Bitcoin.

Open Questions

  • ?Will the attacker face legal consequences?
  • ?What specific security patches were implemented?

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This article was originally published by Cointelegraph.

Quick Look

  • NEAR Intents has successfully recovered $3.8 million in user funds stolen during a recent security breach.
  • The platform's general manager, Alex Shevchenko, confirmed the full return of assets after issuing a 48-hour ultimatum to the identified attacker.

AI-generated summary

Story signals

News tone
Positive
Emotional intensity
High
News value
Moderate
Follow-up likelihood
Unlikely
Relevance window
Days

Source & Reliability

Source
Cointelegraph
Story type
Hard news
Source quality
Full
Published
4 hours ago
near intents
cryptocurrency
security breach
near intents
Alex Shevchenko
ZachXBT
NEAR Intents
Cointelegraph
KuCoin
cryptocurrency
security breach
alex shevchenko
zachxbt
cybersecurity

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