NEAR Intents says its identified the hacker, gives 48-hour ultimatum

What happened

“You know better than most how responsible disclosure works — this is the last window to use it. After 48 hours, that window closes.” Its preliminary investigation found that $3.8 million in user funds was stolen, and it pledged to compensate affected users in full.

NEAR Intents said it has identified the individual behind a security breach that resulted in the loss of $3.8 million in user funds on Thursday, giving them 48 hours to return the funds under “responsible disclosure.” On Thursday, NEAR Intent paused services after detecting a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.”

Blockchain investigator ZachXBT said the funds from the incident were transferred to the KuCoin exchange and bridged to Bitcoin. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Key facts

• Its preliminary investigation — found: that $3.8 million in user funds was stolen, and it pledged to compensate affected users in full