Ethereum
Hacker Exploits Fetch.ai and NuNet in Coordinated Two-Million-Dollar Theft
Security firms report that a single actor drained funds from Fetch.ai and minted unauthorized tokens on NuNet before converting the proceeds into Ether.
On September 19, a single attacker extracted nearly $2 million across two artificial intelligence-focused blockchain projects, according to security firms Blockaid and PeckShield. The exploit began with the draining of approximately 8.7 million FET tokens, valued at around $1.53 million, from a Fetch.ai token converter contract.
The attacker then used the same receiving wallet address to access NuNet's deployer account, minting 408.5 million unauthorized NTX tokens worth roughly $463,000. Blockaid published the associated wallet addresses publicly alongside transaction details to help exchanges and other protocols identify and restrict related movements.
Following the incident, market trackers recorded a 65% to 70% drop in NuNet's NTX token, while Fetch.ai's FET fell by roughly 10%. The exploiter quickly swapped a substantial portion of the stolen assets into 546 ETH, valued at approximately $1.44 million. Neither project had released an official statement at the time of reporting.
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