NEAR Intents says it recovers about $3.8 million stolen in security breach

NEAR Intents said it recovered about $3.8 million stolen during a Thursday security breach. NEAR Intents had identified the individual behind the breach and given the individual 48 hours to return the funds under responsible disclosure, according to reporting on Friday. The exploiter returned the entire sum after being identified and given the deadline.

NEAR Intents general manager Alex Shevchenko announced the complete return of the funds later on Friday. Shevchenko said the funds from the $3.8 million hack had been returned in full. Shevchenko said the investigation was stopping. Shevchenko urged people to use bug bounties instead of disrupting services.

NEAR Intents paused services after detecting a bug in the interaction between the Omni deposit and withdrawal infrastructure and the NEAR Intents smart contract. NEAR's preliminary investigation found that $3.8 million in user funds had been stolen. NEAR pledged to compensate affected users in full. Blockchain investigator ZachXBT said the funds from the incident were transferred to the KuCoin exchange and bridged to Bitcoin.