Near Intents Halts Swaps After $3.8M Exploit

Near Intents, a cross-chain swapping service in the NEAR ecosystem, halted activity after a vulnerability allowed an attacker to drain roughly $3.8 million. The company said it identified the issue and froze swaps while it investigates the exploit and works on remediation.

The incident comes days after Near Intents denied claims tying it to a North Korea-linked Bitget hacker, underscoring the pressure protocols face when security questions emerge alongside active exploit risk. Near Intents said it plans to repay every affected user, a commitment that may help limit customer fallout but will likely increase near-term financial strain.

Cross-chain infrastructure remains one of the most exposed areas in crypto because it concentrates liquidity and depends on complex contract interactions. Even when losses are contained, exploits of this type can slow user activity, widen spreads, and push traders toward larger venues with deeper liquidity and stronger perceived controls.

The broader market backdrop remains risk-on, with the Fear and Greed Index at 74, but security incidents can quickly override sentiment in specific tokens and protocols. For NEAR-related products and cross-chain DeFi names, the immediate focus is on whether the bug was isolated, how quickly services resume, and whether the reimbursement plan is fully funded.