coindesk.comarticleNear Intents blocks $50 million in Bitget hacker swaps, here's what happened
After attackers stole $388M from Bitget, they tried routing $50M+ through the cross-chain swap service NEAR Intents; its SHIELD system — which ingests KYT and intelligence-provider signals to flag deviations in flow — froze roughly $503,000 mid-swap while $166,000 slipped through. The piece contrasts this with THORChain's refusal to block the same attacker addresses, letting $6.3M complete ether-to-bitcoin swaps, and details the resulting debate over whether a "permissionless" protocol can hold user funds without a defined process for release or appeal.
TL;DR NEAR Intents' SHIELD system used KYT/intel signals to freeze ~$503K of Bitget-hack funds mid-swap, while THORChain let $6.3M of the same attacker's funds through — reigniting the permissionless-vs-compliance debate for cross-chain swap protocols.
Organisations named here
- Alex Shevchenko
- Bitget hack
- Illia Polosukhin
Technologies named here
- NEAR Intents
- Bitget exchange wallets
- SHIELD
- THORChain
- Bitcoin
- Ethereum
Techniques named here
- Cross-chain laundering via swap services
- Transaction flow deviation detection / KYT screening
Threat actors named here
- Bitget hacker/attacker
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