NEAR Intents has resumed operations after disclosing a security incident with preliminary losses of approximately $3.8 million, while the underlying NEAR blockchain continued producing blocks and processing transactions without interruption.

The disclosure, made on Oct. 1, pushed the NEAR token toward $4.85 and below the $5 mark. The exploit affected infrastructure the Omni deposit and withdrawal system with a NEAR Intents smart contract, but it did not compromise the NEAR blockchain or the native NEAR token. That distinction sits at the center of the story: the fault lay in cross-chain deposit and withdrawal infrastructure, while the chain securing the token itself kept running normally throughout.

NEAR Intents Restores Services After $3.8M Exploit

NEAR Intents temporarily halted its services after detecting unusual activity involving the Omni deposit and withdrawal infrastructure. The team said the vulnerability stemmed from an interaction between the Omni system and a NEAR Intents smart contract.

After patching the contract vulnerability, NEAR Intents brought its main services back online. NEAR co-founder Illia Polosukhin confirmed that NEAR Intents and near.com had returned to operation following the fix.

“All of the affected users will be compensated in full,” Polosukhin said while describing the response.

Several connected networks remained restricted, however, while additional fixes were completed across the Omni infrastructure. Those networks included BSC, Polygon, TON, Optimism, Avalanche, Stellar, Monad, X Layer, ADI, Scroll and Plasma. The breadth of that list gives a sense of how many outside ecosystems route through the Omni setup to reach NEAR, and re-enabling those channels stands as the most visible remaining operational step in the recovery.

The team also reported the incident to law enforcement and began working with blockchain analytics firms to trace the funds. Blockchain investigator ZachXBT said the stolen assets moved through KuCoin before being bridged into Bitcoin.

NEAR Protocol said in a statement on X that its blockchain continued producing blocks and processing transactions without downtime during the security incident, adding that the vulnerability did not involve NEAR Protocol or the native NEAR token.

NEAR Price Falls Below $5 After Security Incident

Selling intensified once details of the incident reached the market. NEAR slid roughly 9.5% over 24 hours, moving through an intraday range between $4.78 and $5.51 and trading near $4.86 at the time of writing. The drop marked a sharp reversal from the momentum the token carried into the week.

Because NEAR had rallied earlier in the week, it still held gains of about 5.4% over seven days. During the recent bull-bear face-off, the token traded between $4.45 and $5.57 before losing part of those gains.

The pullback follows a strong September performance. A recent NEAR Protocol price analysis tracked rising derivatives activity and growing attention around the Bitwise NEAR ETF.

NEAR Price Forecast Puts $4.75 Support in Focus

Attention now turns to NEAR's nearest technical levels on the four-hour chart, which show weakening short-term momentum after the price retreated from the recent $5.40 to $5.50 region. The token also slipped below its shorter moving average near $4.92, turning that level into immediate resistance.

The MACD line stood near 0.0507, below its signal line around 0.0845, while the histogram moved negative. These readings show that selling momentum increased during the latest decline, although NEAR remains above its longer moving average near $4.21.

Immediate support is located between $4.75 and $4.80, near the latest intraday low. A break below that area would put $4.50 in focus, followed by the $4.20-$4.25 region.

On the upside, NEAR would need to reclaim $4.92 and $5.00 before approaching resistance around $5.30 to $5.50.

A recent crypto price outlook from The Market Periodical noted that the token has been among the stronger performers in September and suggested it may continue its bullish rally after this setback.

Source: The Market Periodical