SHIELD System Intercepts Laundering Attempt NEAR Intents detected and blocked more than $50 million in attempted cross-chain transfers linked to last week's Bitget hack, according to Alex She
NEAR Intents detected and blocked more than $50 million in attempted cross-chain transfers linked to last week's Bitget hack, according to Alex Shevchenko, general manager of NEAR Intents. The intervention was carried out through SHIELD, the protocol's risk-intelligence system, which monitors transactions for links to hacks and other illicit activity.
SHIELD routinely processes more than $100 million in cross-chain volume each day and uses intelligence from know-your-transaction providers, independent researchers, and industry partners to identify potentially illicit funds. When suspicious activity surfaces, the system can decline to provide transaction quotes or halt transfers already underway.
NEAR Intents managed to freeze $503,000 in funds during execution, while around $166,000 in suspected stolen funds passed through. The frozen $503,000 remains restricted while Bitget pursues the appropriate legal and recovery processes. A significant portion of the stolen funds moved across chains to Ethereum, according to Shevchenko.
In total, an estimated $387.5 million was stolen, making it the biggest hack of 2026 to date and among the ten largest of all time.During a livestream on X, CEO Gracy Chen said Bitget suspects North Korean attackers exploited a backend system used to process wallet transactions, making fraudulent withdrawals appear legitimate. She said the attackers did not steal private keys but instead tricked Bitget's internal approval system into authorizing the transfers.
The entire sum will be covered by the $464 million Bitget User Protection Fund, and the exchange has offered a 5% bounty for freezing attacker funds and a 5% one for recovery. In a notable gesture, NEAR Intents said it will forego the 5% bounty offered by Bitget for freezing attacker funds and an additional 5% for their recovery, allowing more funds to be returned to Bitget.
Bitget CEO Gracy Chen thanked NEAR Intents and SHIELD for identifying the attempted laundering activity, freezing funds, and waiving their bounty share. The episode also reignited a broader debate in the industry. The post came as THORChain faced calls to block addresses linked to the attack, underscoring a tension that permissionless crypto protocols face: offering open access while seeking to curb illicit activity. NEAR Intents took a clear stance, arguing that permissionless systems do not have to remain neutral when known stolen funds are involved.
Sources:CoinTelegraph: NEAR Intents Blocked $50M Tied to Bitget HackersFXStreet: NEAR Intents Blocks More Than $50M in Attempted Laundering Linked to Bitget ExploitHalborn: Explained: The Bitget Hack, September 2026
