WuBlockchain
Attackers behind the September 24 Bitget hack tried to move more than $50 million in stolen funds through NEAR Intents, Aurora co-founder Alex Shevchenko said. Its SHIELD risk system detected the flows. About $166,000 passed through, while roughly $503,000 was frozen mid-execution pending legal and recovery procedures.
Why it matters
Shevchenko said about $387.5 million was stolen in total, with most cross-chain funds ultimately consolidated into ETH on Ethereum. Bitget CEO Gracy Chen said NEAR Intents waived its share of the recovery bounty so Bitget can recover more of the stolen assets.
Market impact
The case puts the focus on how permissionless protocols can respond to known illicit flows without shutting off open access. Bitget says it will continue through legal and asset-recovery procedures; the frozen funds remain subject to those processes.
Frequently asked questions
-
How much of the Bitget hack funds did NEAR Intents freeze?
About $503,000 was frozen mid-execution pending legal and recovery procedures. Roughly $166,000 passed through.
-
How did NEAR Intents detect the attempted transfers?
Its SHIELD risk system detected the flows, according to Aurora co-founder Alex Shevchenko.
-
How much was stolen in the Bitget hack?
Shevchenko said about $387.5 million was stolen in total.
-
What happened to most of the stolen cross-chain funds?
Shevchenko said most cross-chain funds were ultimately consolidated into ETH on Ethereum.
-
Why did NEAR Intents waive its recovery bounty share?
Bitget CEO Gracy Chen said the waiver would allow Bitget to recover more of the stolen funds.
CryptoSlate
TheBlock
Crypto News
CoinDesk
CoinTelegraph
Lookonchain