Two separate security incidents have put stablecoin and cross-chain infrastructure risks back in focus. On October 1, StablR's minting contract was compromised after an attacker obtained a stolen key, allowing the intruder to take ownership of the contract and mint millions of the stablecoin. The breach was highlighted in a report and linked to an original disclosure from Fireblocks, underscoring how a single compromised key can undermine an entire stablecoin security model.
Market observers said the StablR exploit may weigh on user confidence in stablecoin platforms and increase scrutiny of security protocols across the sector. The incident did not target a smart contract flaw in the traditional sense, but rather exploited custody and key-management weaknesses. Traders and investors are now watching whether StablR's response will set a precedent for other stablecoin issuers facing similar threats.
On October 2, NEAR Intents revealed it had identified the person behind a separate security breach that caused approximately $3.8 million in losses and gave the individual 48 hours to return the funds. Alex Shevchenko, general manager of NEAR Intents, published three return addresses for Bitcoin, BNB Chain and Solana and addressed the suspected attacker directly: "We have identified you, sir. You know better than most how responsible disclosure works — this is the last window to use it. After 48 hours, that window closes."
NEAR Intents stopped services on Thursday after detecting a bug involving its Omni deposit and withdrawal infrastructure and a NEAR Intents smart contract. The team said the preliminary loss was about $3.8 million and pledged to compensate affected funds in full. Blockchain investigator ZachXBT identified abnormal outflows from a BNB Chain hot wallet associated with NEAR Intents, with assets transferred through KuCoin before being bridged into Bitcoin. NEAR Intents said the contract-side vulnerability was patched shortly after detection, but initial repairs temporarily affected deposits and withdrawals across 11 networks, including BNB Chain, Polygon, TON, Optimism, Avalanche, Stellar and Scroll.
The incident has been reported to law enforcement, and security and blockchain analytics firms are assisting with tracing and recovery. NEAR Intents has not publicly named the individual or provided evidence for the identification claim. The breach came only days after the protocol publicized its role in stopping assets connected to the much larger Bitget security incident, blocking attempts to route more than $50 million and freezing roughly $503,000. A more detailed technical post-mortem is expected to clarify how the Omni infrastructure and Intents contract interaction allowed the loss to occur.
