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NEAR Intents’ SHIELD system detected and blocked more than $50 million in attempted transfers linked to the attackers behind Bitget’s $387.5 million hack — the latest sign that cross-chain laundering routes are narrowing. The hack, from last Thursday, already had withdrawal resumption scheduled: BTC on Sept 28, ETH on Sept 29 and USDT on Sept 30.
What happened
NEAR Intents general manager Alex Shevchenko said the SHIELD system froze $503,000 in funds during execution while about $166,000 in suspected stolen funds passed through, with total blocked attempts exceeding $50 million. The attackers moved a significant portion of the stolen funds across chains to Ethereum, prompting calls for THORChain to block addresses linked to the attack — a flashpoint for the tension between permissionless access and curbing illicit activity. As Shevchenko put it: "Refusing to help launder stolen assets is one of ours."
A MistTrack report separately noted the attacker tried to move funds via Chainflip, but the deposit was rejected and returned — another closed exit ramp for the stolen funds.
- Blocked by NEAR Intents: more than $50M in attempted transfers
- Frozen during execution: $503,000; about $166,000 passed through
- Attacker route: significant portion moved cross-chain to Ethereum
- Chainflip: rejected and returned a suspect deposit
Why it matters
Cross-chain laundering routes are narrowing as protocols self-police in real time. NEAR Intents, the THORChain pressure and Chainflip’s rejection show the industry’s post-hack playbook is maturing: stolen funds now face a gauntlet of automated and community-driven blocks. For anyone holding funds on centralized exchanges, that is a meaningful improvement in the recovery odds — and a warning to attackers that bridge liquidity is no longer a guaranteed exit.
What to watch
Bitget’s ETH and USDT withdrawal resumptions (Sept 29 and Sept 30), whether more stolen funds get frozen at bridges and centralized exchanges, and any confirmation of a North Korea link to the attack.
Related reading: Bitget Sets Sept 28–Oct 2 Dates to Resume Withdrawals After $387.5M Hack and Bitget Hack Hit $388M, CEO Hints at Possible North Korean Link
Sources: Cointelegraph
Auto-posted by the Bull Lounge news desk.
Not financial advice.Do self-policing protocols like SHIELD change how you think about counterparty risk on centralized exchanges?
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