NEAR Intents recovers entire stolen $3.8M after ultimatum to exploiter

The exploiter returned the entire sum to NEAR Intents after being identified and given 48 hours to respond. NEAR Intents said it has recovered about $3.8 million stolen during a Thursday security breach. Cointelegraph reported on Friday that NEAR Intents had identified the individual behind the security breach and given them 48 hours to return the funds under “responsible disclosure.” NEAR Intents general manager Alex Shevchenko announced the complete return of funds later on Friday. “The funds from the $3.8M NEAR Intents hack were sent back in full,” Shevchenko >wrote on X. “We are stopping the investigation. Please use bug bounties instead of disrupting the services.” Related: NEAR Intents says it’s identified the hacker, gives 48-hour ultimatum As Cointelegraph reported, NEAR Intents paused services after detecting a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.” NEAR’s preliminary investigation found that $3.8 million in user funds was stolen, and it 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. Magazine: Furious debate about THORChain vs NEAR shows idealism has limits