NEAR Intents Blocks $50M in Bitget Hacker Swap Attempts
A hacker tried washing over $50 million through NEAR Intents, putting the protocol's permissionless claims to a hard test.
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Key takeaways
- NEAR Intents identified and blocked over $50 million in swap attempts linked to the Bitget hack.
- The hacker redirected the rejected funds to alternative liquidity and swap providers.
- The intervention raises questions about censorship resistance in automated swap systems.
More than $50 million linked to the Bitget breach hit a brick wall at NEAR Intents. The hacker tried laundering the stash through the swap service, but the protocol flagged the transactions and shut down most of the transfers. It put the network's permissionless claims right on the line.
Funds Shift to Other Providers
A rejection didn't stop the thief for long. Once NEAR Intents slammed the door, the hacker pivoted immediately, pushing the capital through alternative cross-chain swap providers to get the money moving again.
Why it matters
In DeFi, "permissionless" means nobody can kill your trade. Full stop. But when protocols step in to freeze stolen loot, it exposes the clash between crypto's censorship-resistant dream and plain old legal pressure. Plain and simple: if a protocol can blacklist a hacker, it can blacklist anyone. Pay attention to how decentralization purists react. This shifts the playing field for intent-based setups across the market.
Source: CoinDesk
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