NEAR Intents Recovers $3.8 Million Stolen

The NEAR Intents project announced that the $3.8 million stolen in a recent security breach has been fully recovered. The project has identified the individual responsible for this security breach and given them 48 hours to return the funds. NEAR Intents CEO Alex Shuchenko announced the full recovery of the funds on social media platform X and urged users to utilize bug bounty programs instead of disrupting services. NEAR Intents temporarily halted all its services after discovering a bug in the deposit and withdrawal infrastructure. Investigations revealed that $3.8 million of users' assets had been stolen, and the project is committed to compensating affected users. A blockchain researcher named ZachXBT reported that the stolen funds were transferred to the KuCoin exchange and then converted to Bitcoin.

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