Wall Street arrived in NEAR just as a $4 billion-a-month app got hacked

A $3.8 million exploit hit one of NEAR’s busiest applications days after Bitwise's NRR ETF launched, sending the token down 10%.

• A $3.8 million exploit on NEAR Intents occurred shortly after the launch of Bitwise's NEAR ETF (NRR), causing the NEAR token to drop 10%.
• The incident tests investor conviction by exposing new ETF investors to ecosystem-level risks, despite the ETF holding NEAR directly and not assets within NEAR Intents.
• The exploit, which affected a high-volume application processing over $4 billion monthly, highlights the increasing sophistication of cyber attacks and the need for enhanced security measures in the crypto space.

Topics: Infrastructure providers, Scalability, Blockchain usage, Tokenization platforms, Growth metrics, Ethereum evm l 1 s

Tags: #nearprotocol #nearintents #bitwiseetf #nrretf #exploit #securityincident #institutionaldemand #ecosystemrisk #tokenprice #usdc

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