Coordinated Exploit Drains $2M from Fetch.ai and NuNet

• •A hacker drained $1.56 million in FET and minted $463,000 in NTX through a single exploit.
• •The exploit was facilitated by a lack of security checks in Fetch.ai's token conversion contract.
• •NTX's value dropped by over 70%, while FET fell by approximately 5-9% following the incident.

On September 19, 2026, a hacker exploited vulnerabilities in Fetch.ai's token converter, draining 8.72 million FET tokens worth approximately $1.56 million. Simultaneously, the same attacker minted 408.5 million unauthorized NTX tokens through NuNet, valued at around $463,000. The total loss from these coordinated attacks is estimated at $2.01 million. The exploit occurred due to a lack of proper security checks in the TokenConversionManagerV3 contract, allowing the attacker to use a valid authorization signature without verifying token locks. Following the exploit, NTX's price plummeted by over 70%, while FET experienced a smaller decline of about 5-9%. Security firms have linked both incidents to the same wallet, indicating a systemic risk within the Artificial Superintelligence Alliance ecosystem. As of now, Fetch.ai has paused certain token conversions and is investigating the incident further.