Wall Street arrived in NEAR just as a $4 billion-a-month app got hacked
NEAR fell about 10% to $4.86 after NEAR Intents disclosed an exploit causing an estimated $3.8 million loss. The incident involved its Omni infrastructure and an Intents contract, not the NEAR blockchain itself, which continued operating normally. The team patched the vulnerability, resumed services and said it would compensate affected users; some cross-chain routes remained unavailable during repairs. The breach came days after Bitwise’s NEAR ETF began trading on NYSE Arca, drawing $35.5 million in first-day inflows and more than $50 million cumulatively by Sept. 30. The ETF’s early performance will test whether investors distinguish application-level security failures from risks to the underlying network. NEAR Intents reportedly processes more than $4 billion in monthly volume, and the team is tracing funds and preparing a postmortem.
