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NEAR Intents shuts briefly after attacker steals about $3.8M

The theft was traced to KuCoin, with funds converted to bitcoin, and NEAR says it will fully repay affected users.

Reported · Written up by our desk · Market Structure

NEAR Intents shut down briefly on Thursday after an attacker took about $3.8 million, according to Decrypt.

ZachXBT traced the stolen funds to KuCoin, where they were converted to bitcoin. The team reported the incident to law enforcement and said a full report is expected.

Decrypt reports the bug was in the layer that moves money in and out, including how it communicated with the main contract holding user funds, and that the contract-side hole was patched within about an hour.

Core services returned after the initial fix, while deposits and withdrawals on 11 networks stayed down for another 12 hours, including BNB Chain, Polygon, and Optimism, and NEAR said every affected user will be paid back in full.

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