NEAR Price Struggles Below $5 After $3.8M Exploit Hits Intents

Exploit Mechanics: How the $3.8M Hack Unfolded

On October 1, 2026, NEAR fell below $5, trading around $4.94 after a $3.8 million exploit on its Intents feature. The 7.5 percent drop erased recent gains and sparked trader worries about the network’s security. Investors reacted quickly as the price slipped just under the psychological $5 level.

The breach, reported by on‑chain analysts, siphoned funds from a smart contract linked to NEAR Intents, a feature enabling custom transaction logic. Attackers exploited a vulnerability in the contract’s verification step, allowing them to move assets without proper authorization. The incident unfolded within hours of a brief rally that had pushed NEAR above $5 earlier in the week. Panic selling followed as investors reassessed risk. The exploit was traced to a misconfigured upgrade path in the contract code.

Can $4.69 Hold? Assessing Support Levels Amid Selloff

The $3.8 million loss stemmed from a flaw in the Intents contract’s signature verification, allowing attackers to forge transactions. Because the feature processes high‑value trades, the breach moved a sizable amount of NEAR quickly, triggering automatic sell orders on major exchanges. Real‑time data from TradingView showed the price dropping 7.55 percent within hours, pushing the token just under $5.

Traders now watch the $4.69 threshold as a potential floor, but breaking below could expose NEAR to further declines toward $4.00. On‑chain metrics indicate reduced validator activity and heightened sell pressure, suggesting lingering uncertainty. Nevertheless, the network’s core infrastructure remains intact, and developers have pledged a rapid audit and patch. Market participants remain divided, with some viewing the dip as a buying opportunity while others adopt a cautious stance.

What exactly caused the $3.8 million exploit? The breach exploited a flaw in the Intents contract’s signature verification, allowing attackers to forge transactions. This enabled the rapid siphoning of roughly $3.8 million worth of NEAR.

Frequently Asked Questions

How might the exploit affect NEAR’s price stability in the short term? Immediate sell pressure could push the token below $5, testing support around $4.69 and potentially $4.00 if momentum continues. Reduced validator activity and heightened market anxiety may keep price depressed for several days.

Is there a realistic path for NEAR to regain $5 levels soon? A successful security audit, coordinated token buy‑back, and renewed developer activity could restore confidence. If these steps occur promptly, NEAR might reclaim $5 within weeks.