NEAR Intents reports $3.8 million exploit and pledges compensation

NEAR Intents said an exploit caused an approximately $3.8 million loss and pledged to fully compensate affected users, after a vulnerability in its deposit and withdrawal infrastructure was used to access funds. The project said the flaw has been patched and reported the incident to law enforcement. The project attributed the loss to a bug in how its Omni deposit and withdrawal system interacted with the NEAR Intents smart contract. The reports identify USDT on BSC as the affected asset and network based on an update from NEAR cofounder Illia Polosukhin. The loss amount and suspected cause have been reported from project statements; the supplied accounts do not independently establish the full impact. Polosukhin said the platform’s SHIELD security system detected unusual activity, prompting a temporary service pause. He said the team fixed the vulnerability within an hour of detection. NEAR Intents and near.com had resumed service by his October 1 update, although some affected chain connections remained restricted. Earlier updates described deposits and withdrawals as unavailable across several networks for about 12 hours.