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NEAR price fell toward $4.85 on Oct. 1 after NEAR Intents disclosed a security incident with a preliminary loss of approximately $3.8 million.
The vulnerability affected infrastructure connecting the Omni deposit and withdrawal system with a NEAR Intents smart contract.
It did not compromise the underlying NEAR blockchain or the native NEAR token. NEAR Intents subsequently restored its main services after patching the contract vulnerability.
NEAR Intents Restores Services After $3.8M Exploit
NEAR Intents temporarily stopped services after detecting unusual activity involving its Omni deposit and withdrawal infrastructure. The vulnerability involved an interaction between the Omni system and a NEAR Intents smart contract.
NEAR co-founder Illia Polosukhin later said NEAR Intents and near.com had returned online after the vulnerability was fixed. “All of the affected users will be compensated in full,” Polosukhin said while describing the response.
However, several connected networks remained restricted while additional fixes were completed across the Omni infrastructure. Those networks included BSC, Polygon, TON, Optimism, Avalanche, Stellar, Monad, X Layer, ADI, Scroll and Plasma.
The team also reported the incident to law enforcement and began working with blockchain analytics firms to trace the funds. Investigator ZachXBT said stolen assets moved through KuCoin before being bridged into Bitcoin.
NEAR Price Falls Below $5 After Security Incident
NEAR traded near $4.86 after falling roughly 9.5% over 24 hours, following an intraday range between $4.78 and $5.51. Selling increased after details of the NEAR Intents incident reached the market.
However, NEAR price has remained about 5.4% higher over seven days because the token had rallied earlier in the week. During the bull-bear face-off, NEAR has traded between $4.45 and $5.57 before losing part of those gains.
The pullback follows a strong September performance for the token. A recent NEAR Protocol price analysis tracked rising derivatives activity and growing attention around the Bitwise NEAR ETF.
NEAR Protocol also clarified that its blockchain continued producing blocks and processing transactions without downtime during the security incident. The project said the vulnerability did not involve NEAR Protocol or the native NEAR token.
NEAR Price Forecast Shows $4.75 Support in Focus
NEAR’s four-hour chart shows weakening short-term momentum after price retreated from the recent $5.40 to $5.50 region. The token also slipped below its shorter moving average near $4.92, turning that level into immediate resistance.
The MACD line stood near 0.0507, below its signal line around 0.0845, while the histogram moved negative. These readings show that selling momentum increased during the latest decline, although NEAR remains above its longer moving average near $4.21.
Immediate support is between $4.75 and $4.80, near the latest intraday low. A break below that area would put $4.50 in focus, followed by the $4.20-$4.25 region.
On the upside, NEAR would need to reclaim $4.92 and $5.00 before approaching resistance around $5.30 to $5.50. Moreover, as we reported in our recent crypto price outlook, the token has been among the stronger performers in September and may continue its bullish rally after this setback.
