NEAR Protocol Freezes $503,000 in Stolen Assets Following Bitget Hack

Key Facts

1NEAR Intents froze $503,000 mid-trade after attackers attempted to move more than $50 million through the protocol.

NEAR Protocol froze $503,000 mid-trade after attackers attempted to move more than $50 million through the network. Unchained Crypto reported that the NEAR Intents layer intervened to halt funds linked to a security breach at the Bitget exchange, with protocol officials defending the move by stating that being permissionless does not equate to being neutral toward stolen assets.

The action was taken to prevent the laundering of illicit funds, marking a strategic shift in protocol governance compared to other platforms that previously declined to block the same hacker's wallets. Market attention remains fixed on the protocol's security perception and the broader implications for DeFi asset protection.