The platform said it will compensate users affected by the hack, which stemmed from a bug that affected deposits and withdrawals.
Cross-chain protocol NEAR Intents reported a security breach that resulted in the loss of $3.8 million in user funds.
In a Thursday X post, the protocol said that the incident was the result of a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.” NEAR said that it would compensate users in full for the lost funds, and the “contract-side vulnerability has been patched” to prevent similar attacks.
“The incident has been reported to law enforcement, and we are working with security and blockchain analytics partners to trace the funds and pursue recovery,” said the platform. “A detailed report will be shared publicly in the following days.”
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