NEAR Intents' risk layer praised by Bitget CEO Gracy Chen for blocking stolen funds

Bitget: Bitget is a centralized cryptocurrency exchange that maintains hot, warm, and cold wallets for user funds and processes cross-chain activity. Its CEO Gracy Chen has recently detailed a security breach where attackers exploited a third-party vulnerability in backend systems to initiate unauthorized withdrawals without accessing private keys. In the context of this news, Chen publicly commends NEAR Intents for its proactive risk controls that help block laundering of assets stolen in such incidents. Gracy Chen: Gracy Chen serves as CEO of Bitget and has been the primary public voice addressing the exchange's recent security breach, including technical details on the attack vector and remediation steps. She has emphasized industry-wide collaboration to combat hackers and launderers. In this news item, she specifically praises NEAR Intents' non-neutral stance on permissionless systems as a model for refusing to facilitate stolen funds. Laura Shin: Laura Shin is a prominent crypto journalist and podcaster who authored a detailed investigative piece on the mechanics of the Bitget security incident. Her reporting provides context on attacker entry points and fund movements that frame the broader discussion in the news. NEAR Intents: NEAR Intents is a cross-chain swap protocol built on the NEAR blockchain that enables users and solvers to facilitate intents-based transfers across multiple networks. It recently introduced the SHIELD risk intelligence layer, which aggregates signals from KYT providers and researchers to detect anomalous or illicit flows and decide whether to allow or halt transactions. The news highlights Chen's appreciation for this approach, noting how it stopped significant attempted movements of funds linked to the Bitget incident. Risk Intelligence: Protocols are deploying dedicated layers that combine on-chain monitoring with external intelligence feeds to automatically flag and restrict flows associated with known hacks or theft. Permissionless Stance: Leading participants argue that true permissionlessness in crypto does not require neutrality toward criminal activity, supporting proactive blocks on suspicious flows to deter future attacks. Industry Collaboration: Exchanges and DeFi protocols are increasingly sharing data on illicit transactions to enable collective refusal to process or launder stolen assets across the ecosystem.