Bearish
NEAR Protocol's NEAR token drops 15.58% to $4.55 following $3.8 million exploit
In the past 24 hours, NEAR Protocol's NEAR token experienced a significant decline of 15.58%, falling to $4.55, following a $3.8 million exploit on its cross-chain trading platform, NEAR Intents. The exploit led to the suspension of services and raised concerns about the platform's security.
Key points
- NEAR Intents halted services after a $3.8 million exploit, causing a 15.58% drop in NEAR token price.
- NEAR Intents patched the vulnerability and pledged full compensation to affected users.
- The exploit was attributed to a bug in the Omni deposit and withdrawal system interacting with the NEAR Intents smart contract.
Sources
AI-generated from public news sources. Not financial advice.
