NEAR Intents recovered the full $3.8 million stolen in a Thursday security breach after identifying the individual behind it and giving them 48 hours to respond.
Cointelegraph reported on Friday that NEAR Intents had identified the person responsible and given them 48 hours to return the funds under “responsible disclosure.” Later that day, NEAR Intents general manager Alex Shevchenko announced the complete return of funds on X.
“The funds from the $3.8M NEAR Intents hack were sent back in full,” Shevchenko wrote. “We are stopping the investigation. Please use bug bounties instead of disrupting the services.”
The Hack and the Pause
NEAR Intents paused services after detecting a “bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.” NEAR’s preliminary investigation found that $3.8 million in user funds was stolen, and it pledged to compensate affected users in full.
Blockchain investigator ZachXBT said the stolen funds were transferred to the KuCoin exchange and bridged to Bitcoin.
How the Company Responded
The recovery came after NEAR Intents took a public stance. Instead of a quiet negotiation, the company named the hack, identified the exploiter, and gave them a deadline.
The company stopped the investigation after the funds were returned in full.
Shevchenko’s Message
Shevchenko’s message on X was direct. He thanked the community for its support and urged caution against future disruptions.
“We are stopping the investigation,” he wrote.
Timeline of the Incident
| Event | Date |
|---|---|
| Security breach detected | Thursday |
| Services paused | Same day |
| Exploiter identified | Friday |
| 48-hour ultimatum issued | Friday |
| Funds returned in full | Friday |
| Investigation halted | Friday |
The Recovery and Its Terms
The recovery was complete. All $3.8 million was returned to NEAR Intents.
The company has now closed the matter. It has stopped the investigation and asked the community to use bug bounties instead of disrupting services.
The company’s approach — identify, disclose, and set a deadline — appears to have worked. The exploiter returned the money within the given time, and the matter is resolved.
The story ends with the money back and the matter closed.
Source material: “NEAR Intents recovers entire stolen $3.8M after ultimatum to exploiter,” Cointelegraph.
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