Near Intents Recovered $3.8M in 48-Hour Takedown of Crypto Exploit
Key Summary
Near Intents has recovered $3.8 million, the amount stolen in an exploit on Thursday, after publicly identifying the attacker and giving them a 48-hour ultimatum. The team, led by general manager Alex Shevchenko, stated that the funds were returned in full. The attacker, who had initially threatened not to return the stolen funds, later posted an on-chain message expressing remorse and urging others to use bug bounties. Shevchenko initially publicly identified the attacker, saying "We have identified you, sir." The recovery marks a successful conclusion to the incident, with Near Intents recovering its stolen assets.
Background
Near Intents, a blockchain-based platform, announced on Friday that it had identified and tracked down the attacker responsible for draining $3.8 million in cryptocurrency from its system.
Exploitation and Ultimatum
The exploit occurred on Thursday, prompting the Near Intents team to issue a 48-hour ultimatum to the attacker, demanding the return of the stolen funds.
Recovery
A day after the ultimatum, the team announced that the funds had been recovered in full, bringing closure to the incident and serving as a deterrent to future exploiters.