NEAR Intents resumes service after $3.8 million USDT exploit on BSC

  • NEAR Intents restored core service after a preliminary $3.8 million USDT exploit on BNB Smart Chain.
  • The Omni-related vulnerability drained a hot wallet, while NEAR said the base network, native token, block production and transaction processing were unaffected.
  • Deposits and withdrawals across 11 networks remained restricted as the team completed repairs, traced funds and prepared full reimbursement; Bitwise’s NRR ETF had attracted more than $50 million before NEAR fell about 10%.

NEAR Intents restored core service and near.com after an attacker exploited a bug between Omni’s deposit-and-withdrawal infrastructure and an Intents smart contract, causing a preliminary loss of about $3.8 million involving USDT on BNB Smart Chain. The project patched the vulnerability, said it would fully reimburse affected users, referred the incident to law enforcement and began preparing a fuller postmortem. Deposits and withdrawals across 11 networks remained temporarily restricted while repairs continued. NEAR co-founder Illia Polosukhin said the exploit was isolated to USDT on BSC, while the NEAR Protocol, native token, block production and transaction processing were unaffected. NEAR fell as much as about 10% to $4.86. Bitwise’s newly launched NRR spot NEAR ETF, which began trading on NYSE Arca on Sept. 29, recorded $35.5 million in first-day net inflows and more than $50 million cumulatively by Sept. 30, when its net assets reached $52.8 million, leaving investors exposed to NEAR’s market-price risk.

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