NEAR Intents Recovers Entire $3.8M After Ultimatum to Exploiter
NEAR Intents has recovered the full $3.8 million stolen in a security exploit after identifying the alleged attacker and issuing a 48-hour deadline for the funds to be returned. CoinDesk reported that the exploiter returned the assets a day after the breach.
The recovery closes an unusual episode for the cross-chain trading platform. NEAR Intents initially halted services after detecting a bug involving its Omni deposit and withdrawal infrastructure and its smart contract. The incident affected deposits and withdrawals across several connected networks.
Security breach traced to smart contract flaw
NEAR Intents said the exploit caused about $3.8 million in losses. On-chain analysis later placed the amount at roughly $3.87 million in USDT withdrawn from a BNB Chain vault.
The stolen assets moved through multiple wallets and services. Blockchain tracking showed that much of the funds were converted into Bitcoin, while another portion reached KuCoin-linked deposit addresses. The protocol patched the affected contract and said it would fully compensate users.
The team also contacted law enforcement and blockchain analytics firms while investigating the incident. NEAR Intents said the vulnerability had been fixed as it worked to restore normal operations.
Ultimatum precedes full recovery
On Oct. 2, general manager Alex Shevchenko said the team had identified the individual behind the attack. He gave the alleged exploiter 48 hours to return the assets under a responsible-disclosure arrangement.
The funds were subsequently returned in full, according to Shevchenko. A BNB Chain transaction associated with the recovery also contained a message from an address labeled as the NEAR Intents exploiter, supporting the reported return.
NEAR Intents said it has stopped its investigation following the recovery. The incident highlights the risks that can arise when cross-chain infrastructure and smart contracts interact, even when a protocol can trace and recover stolen assets quickly.
