🔤 UPD: $50M From the Bitget Hack Hit NEAR Intents 🟠Remember the $351.6M Bitget hack? Some of the stolen crypto is now testing an uncomfortable question for DeFi: what exactly does “permissionless” mean when a protocol can still freeze your funds? 🟠More than $50M linked to the Bitget hack was reportedly routed toward NEAR Intents. Its SHIELD system blocked most of those attempts during the quote stage, while another $503K was frozen during execution. Around $166K still made it through. 🟠And that triggered a debate. NEAR Intents describes itself as permissionless, but its architecture allows specific governance addresses to block accounts and even pause swaps and withdrawals entirely. 🟠NEAR Intents responded with a simple argument: “permissionless does not mean neutral.” In other words, anyone may be able to access the protocol — but that doesn’t necessarily mean the protocol has to process every transaction. 🟠Compare that with THORChain, which reportedly refused to selectively block hacker-linked funds after the same Bitget incident, pointing specifically to its permissionless architecture. 🟠Important distinction: NEAR Intents is a separate protocol built on top of NEAR. These controls exist at the Intents layer and do not mean the NEAR blockchain itself can selectively freeze funds. 👉 The Bitget hack is turning into more than a $352M security incident. Now it’s exposing where different DeFi protocols draw the line between permissionless infrastructure and intervention.
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🔤 UPD: $50M From the Bitget Hack Hit NEAR Intents
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