NEAR Intents, a cross-chain trading service built on the NEAR Protocol, is back online after an exploit drained an estimated $3.8 million from the platform. The team says it will fully compensate every user affected by the incident.

Service Restored After Vulnerability Patch

NEAR Intents lets users swap tokens across different blockchains using automated programs known as “solvers.” These solvers match and fill trades on behalf of users, pooling liquidity from multiple sources to find the best available rates. Cross-chain services of this kind have been a recurring target for attackers across the industry, since the smart contracts that pool and route liquidity between networks concentrate funds in one place.

An attacker exploited a bug in this system and drained approximately $3.8 million from the protocol. On-chain investigator ZachXBT was among the first to publicly flag the incident, as reported earlier on CoinLineup.

The team paused the service while it investigated and patched the vulnerability. Once the fix was in place, NEAR Intents confirmed the platform had resumed normal operations. The team has not disclosed the exact mechanism of the exploit in publicly available statements.

Full Compensation Pledged, Details Pending

The NEAR Intents team has pledged to compensate all affected users in full, meaning every user who lost funds in the exploit is expected to be made whole. The project has not yet confirmed payment dates, eligibility criteria, or the funding source for the reimbursements.

A compensation pledge is a commitment rather than a completed payment. Users should monitor official NEAR Intents channels for instructions on how and when their funds will be returned.

Full reimbursement commitments following exploits are not always straightforward. They depend on the project maintaining sufficient treasury reserves or insurance arrangements to cover the loss. Until payouts are confirmed on-chain, the pledge remains a stated intention. Whether the team publishes a fuller post-incident report explaining the bug, and how the reimbursements are structured once details are confirmed, will be the key points to watch as the platform operates with the patch in place.

Affected Users Should Do

• Service restored: NEAR Intents has resumed operations after the temporary pause caused by the exploit.
• $3.8 million drained: The attack resulted in an estimated $3.8 million loss from the protocol.
• Full compensation pledged: The team has committed to reimbursing all affected users, though specific payment details have not yet been confirmed.

Users who transacted on NEAR Intents around the time of the incident should follow the project’s official announcements for compensation claim instructions. Do not send funds to any wallet claiming to process refunds unless the address has been verified directly through NEAR Intents’ official website or social channels.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.