NEAR Intents hit by $3.8 million exploit as crypto's rough year of hacks continues
Source: CoinDesk ·
From the source
The popular cross-chain trading system said it will reimburse losses after a bug affected deposits and withdrawals across several networks. Blockchain protocol NEAR Intents was hit by a security exploit that caused about $3.8 million in losses Thursday, forcing the platform to pause services and temporarily disable deposits and withdrawals on several blockchains. The project said the incident was caused by a bug in the way its Omni deposit and withdrawal system interacted with the NEAR Intents smart contract. The contract-side vulnerability has since been patched, and NEAR Intents said affected funds will be reimbursed in full. NEAR Intents is designed to make cross-chain trading simpler. Instead of asking users to choose a bridge, exchange or route themselves, they specify the swap they want and independent market makers, known as solvers, compete to complete it behind the scenes. The platform’s website said it has processed more than $30 billion in volume across 35 blockchains.…