Neutral
NEAR Intents Restores Services After $3.8M Exploit; Proposes Token Issuance Cut
NEAR Intents, a core cross-chain trading protocol within the NEAR ecosystem, experienced a security breach on October 1, 2026, resulting in an estimated loss of $3.8 million. The team responded promptly, suspending services and pledging full reimbursement to affected users. Additionally, a proposal to reduce the maximum annual token issuance rate from 2.5% to 1.6% over two years has been introduced, aiming to curb inflation and adjust staking rewards.
Key points
- NEAR Intents suffered a $3.8 million exploit, leading to a temporary suspension of services.
- The NEAR team has identified the attacker and issued a 48-hour ultimatum for the return of stolen funds.
- A proposal to reduce annual token issuance from 2.5% to 1.6% over two years aims to decrease inflation and adjust staking rewards.
Sources
- Cross-Chain Trading Protocol NEAR Intents Halts Services After $3.8 Million Exploit, Pledges Full CompensationCrowdfund Insider · October 2, 2026
- NEAR Restores Services After Security Breach; Hacker Given 48-Hour UltimatumCoinDisplayHub Live News · October 2, 2026
- Latest NEAR Protocol News - (NEAR) Future Outlook, Trends & Market InsightsCoinMarketCap · October 2, 2026
AI-generated from public news sources. Not financial advice.
