'We Have Identified You, Sir': Near Intents Recovers $3.8 Million After 48-Hour Ultimatum
Near Intents said the roughly $3.8 million drained in an exploit on Thursday was returned in full, a day after the team said it had identified the attacker and gave them 48 hours to return the funds.
NEAR Intents has successfully recovered the full $3.8 million stolen during a security breach, according to a statement from the company. The hacker was identified and given a 48-hour ultimatum to return the funds, which they did. NEAR Intents' general manager, Alex Shevchenko, announced the recovery of the funds on X, stating that the company has stopped its investigation and encourages the use of bug bounties instead of disrupting services.
The security breach occurred on Thursday after a bug was discovered in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents' smart contract. NEAR's preliminary investigation confirmed that $3.8 million in user funds were stolen, and the company pledged to compensate affected users in full. Blockchain investigator ZachXBT reported that the funds were transferred to the KuCoin exchange and then bridged to Bitcoin.
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- NEAR Intents recovers entire stolen $3.8M after ultimatum to exploiter cointelegraph.com
