NEAR Intents confirmed that it has successfully reclaimed roughly $3.8 million that was taken during a security incident on Thursday.
It was noted on Friday that NEAR Intents pinned down the person responsible for the exploit and issued a 48-hour deadline to send back the capital via responsible disclosure.
Alex Shevchenko, the general manager of NEAR Intents, confirmed later on Friday that the assets had been completely restored.
“The funds from the $3.8M NEAR Intents hack were sent back in full,” Shevchenko wrote on X. “We are stopping the investigation. Please use bug bounties instead of disrupting the services.”
Related: NEAR Intents says it’s identified the hacker, gives 48-hour ultimatum
As previously covered, NEAR Intents suspended its operations upon discovering a flaw in how the Omni deposit and withdrawal framework interacted with the NEAR Intents smart contract.
An initial probe by NEAR revealed that $3.8 million belonging to users had been pilfered, and the platform promised to fully reimburse impacted participants.
On-chain analyst ZachXBT pointed out that the assets tied to the event were moved over to the KuCoin trading platform and subsequently swapped across to Bitcoin.
Magazine: Furious debate about THORChain vs NEAR shows idealism has limits
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Originally published at https://cointelegraph.com/news/near-intents-recovers-entire-stolen-38m-after-ultimatum-to-exploiter?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
