A serious security breach hit the Sweat Economy (SWEAT) project on the NEAR Protocol ecosystem earlier today. The attack began at 13:36 UTC and was completed in approximately 30 seconds. During this window, multiple Sweat Foundation wallets were drained, with a total of about 13.71 billion SWEAT tokens compromised—roughly 65% of the circulating supply.
The attacker used a custom “drainer” smart contract built on Rust, utilizing a crate called “exploit-resolve” to rapidly siphon assets. Stolen funds were moved through Ref Finance and cross-chain via Wormhole/Portal Bridge. At peak, the attacker held about 17.71 billion SWEAT (≈ $3.46 million), with $2.68 million at the main address, $761,000 moved to a second-stage address, and $20,000 converted to NEAR and USDC.
However, the Sweat team quickly paused the token contract and coordinated with MEXC and Rhea Finance. MEXC froze the attacker’s account, and Rhea halted SWEAT trading. The team stated, “ALL external account balances have been fully restored and operations are back to normal.” They plan to file an incident report with law enforcement and conduct a forensic post-mortem.
