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NEAR Intents reports $3.8M exploit and says it will fully compensate users

The protocol attributed the breach to a bug in how its Omni deposit and withdrawal infrastructure interacted with its smart contract, and said the contract-side vulnerability has been patched.

Reported · Written up by our desk · Altcoins

NEAR Intents said it suffered a security breach that led to the loss of $3.8 million in user funds, according to Cointelegraph. The cross-chain protocol said the incident was driven by a bug involving an interaction between its Omni deposit and withdrawal infrastructure and the NEAR Intents smart contract.

Cointelegraph reported that the platform said it will compensate affected users in full for the lost funds. It also stated that the contract-side vulnerability has been patched to help prevent similar attacks.

The outlet added that NEAR said the incident was reported to law enforcement and that it is working with security and blockchain analytics partners to trace the stolen funds.

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