NEAR Intents hacked days after freezing stolen Bitget funds

What happened

NEAR Intents halted its services today after the protocol was hacked for three dollars and eight-tenths million dollars via a deposit and withdrawal exploit. This happened days after the protocol froze stolen Bitget funds.

Confirmed

Global impact / market context

The hack hurts trust in NEAR Intents because it lost three dollars and eight-tenths million dollars through deposits and withdrawals, which means users could lose money. Halting services blocks users from accessing funds and may push them to other protocols.

Analyst inference

The Bitget freeze shows stolen funds were already an issue before this new hack. Two security events in days may make investors cautious about NEAR-linked assets and similar deposit and withdrawal systems across crypto.

Analyst inference

What to watch

1. Whether NEAR Intents resumes services and how it handles the three dollars and eight-tenths million dollar loss from the deposit and withdrawal exploit. Confirmed
2. Whether users pull funds from NEAR Intents after the halt, which could reduce activity and fees on the protocol. Analyst inference
3. Whether the Bitget stolen funds freeze is reversed, which could change the amount of money tied to the earlier incident. Analyst inference

Affected assets

• NEAR — NEAR Protocol

Evidence

• protos.com