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NEAR Intents says SHIELD blocked over $50M from Bitget hackers

The protocol also said it detected and froze $503,000 during attempts that followed the Bitget hack, with a significant share of stolen funds moving to Ethereum.

Reported · Written up by our desk · Altcoins

NEAR Intents said its SHIELD system blocked more than $50 million in attempted cross-chain transfers tied to hackers associated with the Bitget attack, according to Cointelegraph.

The outlet reported that attackers stole $387.5 million from Bitget on Thursday, and that a significant portion of those funds moved across chains to Ethereum, citing Alex Shevchenko, general manager of NEAR Intents.

Shevchenko said SHIELD detected and blocked the attempted transfers, which then moved to other providers, while the system froze $503,000 in funds during execution.

NEAR Intents also framed its action as an effort to prevent stolen funds from being laundered, contrasting it with THORChain’s stated position that it does not selectively censor transactions.

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