SweatEconomy, an application in the NEAR ecosystem, has suffered a major security breach. According to blockchain security firm Blockaid, attackers stole around 13.71 billion SWEAT tokens, representing roughly 65% of the token’s total supply. The incident immediately raised fresh concerns about treasury security, protocol integrations, and the broader risks facing crypto applications.
Accounts Drained Within 30 Seconds
Blockaid said multiple accounts tied to the Sweat Foundation were emptied in just 30 seconds. The stolen funds were then routed through Ref Finance before being moved via the Wormhole/Portal Bridge. The use of decentralized finance infrastructure and cross-chain rails can make post-attack tracking and recovery significantly more difficult, adding another layer of complexity to incident response.
Team Says User Balances Were Restored
In its response, the official SWEAT team said that all user external account balances have been fully restored and that platform operations have returned to normal. While that suggests the team has contained the immediate user-facing impact, the public update did not provide further details on the restoration process, the source of funds used to make users whole, or the full technical cause of the exploit.
Another Reminder of Crypto Security Risks
Even with services reportedly back online, the breach underscores persistent weaknesses across the crypto sector, especially around account controls, smart contract interactions, and cross-chain infrastructure. When attackers can rapidly move assets through DEXs and bridges, projects face growing pressure to improve wallet security, real-time monitoring, and emergency response systems. For the NEAR ecosystem, the attack is also a reminder that security remains a critical challenge as applications scale.