Near Intents, a cross-chain swap service, has suspended operations after an attacker exploited a vulnerability to drain roughly $3.8 million from the platform. The incident comes just days after the company publicly distanced itself from a North Korea-linked hacker tied to the Bitget exploit.
What Happened
The protocol halted its cross-chain swap functionality after discovering that a bug in its system had allowed a malicious actor to siphon off approximately $3.8 million. The company moved quickly to freeze activity in an effort to contain the damage and prevent further losses.
In the aftermath, Near Intents sought to reassure its user base, pledging to make every affected customer whole. The commitment to full reimbursement is intended to limit the fallout and maintain trust in the platform.
We will repay every single user affected by this breach, the company vowed in the wake of the exploit.
Timing and Controversy
The breach is particularly awkward given its timing. Only days earlier, Near Intents had denied any connection to a hacker linked to North Korea who was associated with the high-profile Bitget exploit. That denial now sits uncomfortably alongside news of its own security failure.
Cross-chain swap services have become frequent targets for attackers, as the infrastructure that bridges different blockchains often introduces complex attack surfaces. A single overlooked bug can expose significant sums to exploitation.
Key points from the incident include:
- An attacker drained about $3.8 million through a system vulnerability
- Near Intents froze cross-chain swaps to contain the breach
- The company promised to repay all affected users
- The hack followed the firm's recent denial of ties to a North Korea-linked hacker
The episode underscores ongoing security challenges across decentralized finance, where rapid responses and reimbursement promises have become standard damage-control measures following breaches.