🚨 $3.8 MILLION WITHDRAWN. BUT THE DEPOSITS NEVER HAPPENED?
$NEAR Intents just revealed how an attacker created millions of dollars in balances that weren't backed by real deposits.
And the most disturbing detail?
It happened 23 TIMES.
🔍 HERE'S WHAT THE INVESTIGATION FOUND
On October 16, NEAR Intents published a detailed postmortem of its October 1 exploit.
The attacker exploited a smart contract accounting flaw.
Here's the trick:
1️⃣ A deposit was initiated.
2️⃣ A failed contract notification caused the tokens to be refunded.
3️⃣ NEAR Intents still recorded the deposit as successful.
4️⃣ The attacker used that artificial balance to withdraw real assets.
After 23 failed deposits, the system had credited approximately $3.8 million in funds that weren't actually there.
The team calls them "ghost funds."
⚠️ IMPORTANT DETAILS
• The flaw was in the $NEAR Intents contract, not the Omni infrastructure.
• The team says all $3.8M was returned.
• Affected users were fully compensated.
• The vulnerable feature was removed.
• New balance checks and automatic safeguards were introduced.
💭 MY TAKE
The scary part isn't just the $3.8 million.
It's that a system can appear properly funded while its internal accounting tells a completely different story.
This raises a bigger question for DeFi: how many vulnerabilities remain invisible until someone exploits them?
The funds are back. But rebuilding trust is a different challenge.
👀 YOUR TAKE:
Would you trust $NEAR Intents again after these fixes?
Or does an exploit like this permanently change your view of a protocol?
👇 I want to hear both sides.
#Near #defi #CryptoSecurity
$NEAR Intents just revealed how an attacker created millions of dollars in balances that weren't backed by real deposits.
And the most disturbing detail?
It happened 23 TIMES.
🔍 HERE'S WHAT THE INVESTIGATION FOUND
On October 16, NEAR Intents published a detailed postmortem of its October 1 exploit.
The attacker exploited a smart contract accounting flaw.
Here's the trick:
1️⃣ A deposit was initiated.
2️⃣ A failed contract notification caused the tokens to be refunded.
3️⃣ NEAR Intents still recorded the deposit as successful.
4️⃣ The attacker used that artificial balance to withdraw real assets.
After 23 failed deposits, the system had credited approximately $3.8 million in funds that weren't actually there.
The team calls them "ghost funds."
⚠️ IMPORTANT DETAILS
• The flaw was in the $NEAR Intents contract, not the Omni infrastructure.
• The team says all $3.8M was returned.
• Affected users were fully compensated.
• The vulnerable feature was removed.
• New balance checks and automatic safeguards were introduced.
💭 MY TAKE
The scary part isn't just the $3.8 million.
It's that a system can appear properly funded while its internal accounting tells a completely different story.
This raises a bigger question for DeFi: how many vulnerabilities remain invisible until someone exploits them?
The funds are back. But rebuilding trust is a different challenge.
👀 YOUR TAKE:
Would you trust $NEAR Intents again after these fixes?
Or does an exploit like this permanently change your view of a protocol?
👇 I want to hear both sides.
#Near #defi #CryptoSecurity