Near Intents Freezes Swaps Following $3.8M Smart Contract Exploit
Near Intents froze cross-chain transactions after a smart contract bug allowed an attacker to walk away with $3.8 million.
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Key takeaways
- A protocol bug allowed an attacker to steal $3.8 million from Near Intents.
- Near Intents suspended all cross-chain swap services following the attack.
- The team pledged to reimburse all impacted users in full.
Someone spotted a flaw in Near Intents' code and made off with roughly $3.8 million, forcing the cross-chain protocol to slam the brakes on its swap services.
Swaps Paused Immediately
The team hit the kill switch on all cross-chain swap functions the second they spotted the drain. Millions in capital vanished instantly, but the operators rushed in to handle the fallout, promising to reimburse every single affected user in full.
Why it matters
Cross-chain bridges and intent routing protocols carry huge bullseyes on their backs. Slip one bad line of code into production, and your money is immediately on the line. Promising a full refund helps stop the panic, but don't be fooled: cross-chain liquidity setups are constantly living on borrowed time.
Source: Decrypt
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