NEAR Intents Hacker Returns $3.8 Million After Ultimatum
On October 2, 2026, the hacker responsible for the NEAR Intents exploit on October 1 returned the stolen $3.8 million in USDT. The return occurred before the expiration of a 48-hour ultimatum issued by Alex Shevchenko, CEO of NEAR Intents, who claimed to have identified the attacker.
Hacker returned $3.8 million in USDT after NEAR Intents exploit.
Return occurred before a 48-hour ultimatum expired.
76% of stolen funds converted to Bitcoin, 21% sent to KuCoin.
Incident highlights security risks and the importance of rapid response.
Story
The hacker responsible for stealing $3.8 million in USDT from a NEAR Intents vault on the BNB Chain on October 1, 2026, returned the funds on October 2. This occurred just before the expiration of a 48-hour ultimatum issued by Alex Shevchenko, CEO of NEAR Intents, who stated he had identified the attacker. A significant portion of the stolen funds, 76%, was converted to Bitcoin and distributed across four wallets, while 21% was sent to KuCoin deposit addresses. The exact reasons for the return were not publicly disclosed, but Shevchenko had urged the attacker to practice responsible disclosure of the vulnerability. This incident highlights the ongoing security risks in the DeFi space but also demonstrates that in some cases, rapid response and identification of attackers can lead to the recovery of stolen assets. The transparency of blockchain transactions plays a crucial role in such events.
Issue context
The crypto market is experiencing a period of significant infrastructural developments, pointing towards increased institutional participation. Payward, Kraken's parent company, in collaboration with Singapore Gulf Bank (SGB), has launched 24/7 USD settlement for institutional clients in eligible Asian and Gulf jurisdictions. This initiative, announced on October 5, aims to bridge the disconnect between continuous crypto trading and traditional banking hours, potentially improving capital efficiency and reducing operational friction for large market participants. Concurrently, Tether announced the return of USDT to the Bitcoin blockchain via the Utexo and RGB protocol, which could potentially bolster Bitcoin's liquidity and DeFi utility. These developments signal a maturing market infrastructure that better accommodates institutional demands.
Current developments indicate increasing institutional integration and technological advancements in crypto. Simultaneously, Ethereum's liquidity constraints and Bitcoin's sensitivity to macro data point to potential volatility. Note that large whale transactions can influence short-term market movements but do not necessarily signal a trend. Your risk assessment should account for these factors.
Market pulse
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Greed
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BTC Open Interest
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This story is part of the Biturai Market Brief and is for informational purposes only. No investment advice.