Wall Street arrived in NEAR just as a $4 billion-a-month app got hacked

NEAR’s new US ETF is facing its first stress test days after launch as a $3.8 million ecosystem exploit hit the token.NEAR fell about 10% to $4.86 after NEAR Intents disclosed a security incident involving its Omni deposit-and-withdrawal infrastructure. The selloff came less than two days after Bitwise opened the token to US exchange-traded fund investors through its NEAR ETF, with the ticker NRR.The fund began trading on NYSE Arca on Sept. 29 and attracted $35.5 million of net inflows on its first day. By Sept. 30, cumulative inflows had risen to over $50 million, while total net assets reached $52.8 million, equivalent to about 0.76% of NEAR’s market capitalization, according to SoSoValue data.That timing gives the newly launched product an unusually early test of investor conviction. The ETF protects buyers from the operational burden of wallets, private keys, and direct staking, but its value still moves with NEAR, leaving shareholders exposed when problems elsewhere in the ecosystem undermine confidence in the token.A $3.8 million exploit hits NEAR IntentsIn an X statement, NEAR Intents said it temporarily halted services after detecting what it described as a bug in the inter...