NEAR Intents Says It Blocked $50 Million Linked to Bitget Hack
(3 days ago) · 1 source · Summarized by CryptoBipto
NEAR Intents has announced that it blocked approximately $50 million in funds allegedly tied to hackers who targeted the Bitget exchange. The platform says it identified and froze the suspicious transactions to prevent the stolen funds from being laundered through its infrastructure.
WHY IT MATTERS
When hackers steal cryptocurrency from an exchange, they typically try to move the stolen funds through multiple platforms and blockchains to hide their tracks — similar to how a bank robber might move cash through several accounts to make it harder to trace. NEAR Intents is a service that helps move assets between different blockchains, and it says it acted like a checkpoint, catching and freezing suspicious funds before they could pass through. This is significant for beginners to understand because it shows that even in the world of crypto, intermediaries can sometimes step in to stop the flow of stolen money, though the effectiveness and completeness of such actions can vary.
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- cointelegraph.com
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