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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/04/2026

NEAR Intents Recovers $3.8M Hack as Blast L2 Shuts Down Amid 99% Revenue Drop

What happened: NEAR Intents, a key protocol on the NEAR blockchain, fully recovered $3.

NEAR Intents Recovers $3.8M Hack as Blast L2 Shuts Down Amid 99% Revenue Drop

What happened: NEAR Intents, a key protocol on the NEAR blockchain, fully recovered $3.8 million stolen in an Oct 1 exploit after issuing a 48-hour ultimatum to the attacker. Separately, Ethereum Layer 2 Blast announced its permanent shutdown, citing unsustainable economics: TVL collapsed from a $2.27B peak in June 2024 to ~$32M, and September 2026 fee revenue dropped 99.95% from $3.66M to just $1,793. The BLAST token fell ~44% on the news.

Why it matters: The swift recovery at NEAR Intents demonstrates the growing effectiveness of negotiation and threat of blacklisting in DeFi exploit response. Blast's shutdown, meanwhile, highlights the volatility and fragility of L2 business models, especially when user incentives dry up. The sharp drop in TVL and revenue underscores how quickly capital can exit when confidence erodes or rewards diminish.

Source: Cointelegraph