Crypto Transfer Blocking
NEAR Intents Blocks $50 Million in Transfers Linked to Bitget Hack
Anonymous
NEAR Intents says its SHIELD system blocked more than $50 million in attempted transfers linked to the $387.5 million Bitget hack, though the rejected funds later moved toward other providers. The protocol froze about $503,000 during execution, while roughly $166,000 in suspected stolen funds passed through. NEAR Intents plans to forgo Bitget’s recovery bounty, saying the frozen assets will be returned through an appropriate legal process. The action has sharpened debate over whether permissionless crypto protocols should screen or freeze transactions: NEAR Intents argues they should not enable the laundering of stolen assets, while THORChain says it does not selectively censor transactions.
Key Points
1
Bitget initially estimated the Sept. 24 theft at $351.6 million, then raised its estimate to about $387.5 million after tracing additional Zcash and Tron assets.
2
Circle and Tether separately froze $318,013 in USDC and USDT held in a wallet linked to the Bitget exploiter, according to onchain data.
3
Bitget CEO Gracy Chen urged THORChain to deny service to wallets linked to the exploit; THORChain responded that it does not censor by design and that past halts were broad emergency security measures.
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