NEAR Intents Blocks More Than $50 Million in Bitget Hack Flows, Waives Recovery
NEAR Intents blocked more than $50 million in funds linked to the September 24 Bitget hack after its SHIELD risk-detection system identified attempts to route the stolen assets through the network, according to Aurora co-founder Alex Shevchenko, as reported by Wu Blockchain.
Shevchenko said attackers attempted to move more than $50 million of the stolen funds through NEAR Intents. About $166,000 ultimately passed through the system, while roughly $503,000 was frozen during execution pending legal and recovery procedures.
NEAR Intents Detects Attempted Fund Flows
The intervention was carried out through NEAR Intents' SHIELD risk system, which detected the movement associated with the Bitget exploit. The figures indicate that the majority of the more than $50 million in attempted flows did not successfully pass through the system.
The approximately $503,000 frozen mid-execution remains subject to legal and recovery procedures, according to Shevchenko. The reported $166,000 that passed through NEAR Intents represents a separate portion of the attempted movement.
Shevchenko said approximately $387.5 million was stolen in total during the Bitget hack. He added that most of the stolen funds that moved across chains were ultimately consolidated into ETH on Ethereum.
Bitget Recovery Efforts Continue
Bitget CEO Gracy Chen said NEAR Intents has waived its share of the recovery bounty to support Bitget's efforts to recover more of the stolen funds.
Chen also said public blockchains do not have to choose between maintaining open, permissionless access and restricting the movement of known stolen funds. She argued that risk-detection mechanisms can be incorporated into blockchain infrastructure while preserving permissionless access.
The decision by NEAR Intents to waive its portion of the recovery bounty removes that share from the recovery-related claim and allows Bitget to pursue recovery of a larger portion of the assets, according to Chen.
Legal and Asset-Recovery Process
The response to the attempted fund movements remains tied to Bitget's broader recovery effort. Bitget said it will proceed through the appropriate legal and asset-recovery process.
The reported movements also show how stolen assets from a single exploit can be distributed across multiple blockchain networks before being consolidated. In this case, Shevchenko said most cross-chain funds were eventually consolidated into ETH on Ethereum.
For the funds frozen by NEAR Intents, the next stage finance remains subject to legal and recovery procedures, while Bitget continues its broader asset-recovery process.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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