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Attacker Drains $2M from Fetch.ai and NuNet; NTX Plunges to Record Low
An exploiter drained about $2 million from Fetch.ai and NuNet, with NuNet's NTX token hitting an all-time low.
20/09/2026 06:279 min read
A single attacker has been connected to incidents at Fetch.ai (FET) and NuNet (NTX), involving approximately $2 million in digital assets.
Both breaches were linked by security companies to one wallet. NuNet's NTX token fell by over 70% and reached a record low on September 20.
How a Single Attacker Hit Both Protocols
On September 20, Blockaid reported that an exploiter had siphoned roughly $1.56 million in FET from a Fetch.ai token converter on Ethereum. According to the firm, the attacker employed a legitimate conversion-authorizer signature to invoke the conversionIn function on TokenConversionManagerV3.
That one function call freed the converter's entire remaining FET supply. Blockaid tagged the wallet of the exploiter as 0x1572…c362.
🚨SlowMist TI Alert🚨
— SlowMist (@SlowMist_Team) September 20, 2026
💸 @Fetch_ai Loss: ~$2M
🔍 Root Cause: TokenConversionManagerV3's conversionIn() leaves single-EOA ECDSA signature as the sole authorization check. It lacks the checkLimits(amount) modifier present in conversionOut(), and does not verify any on-chain…
Blockaid noted that the same wallet that received the Fetch.ai funds also got a substantial NTX mint from the NuNet deployer address. The firm valued the NTX mint at approximately $452,000.
Total activity across the wallet group has now reached about $2.01 million. PeckShieldAlert further stated that the exploiter had exchanged the stolen assets for 546.36 ETH, worth around $1.44 million at the time of writing.
NuNet Token Plunges to a Record Low
The disclosed exploit has weighed heavily on NuNet's NTX token. It touched an all-time low of $0.000328 on the same day. At the time of writing, NTX was trading around $0.0004, a decline of over 70% in 24 hours.
FET dropped roughly 5% in the same timeframe, a much milder loss compared to NuNet's plunge. This happened amid a broader market downturn, as most major cryptocurrencies were in the red and the total crypto market cap fell 4%.
September has proved costly for the crypto sector. Three days earlier, the Starknet lending protocol Nostra had lost $3.5 million due to an oracle manipulation.
Before the Fetch.ai incident, DefiLlama had recorded about $331 million in losses from 17 events this month, the bulk coming from the $320 million Liquid Network case. With Fetch.ai and NuNet added, the monthly total now exceeds $333 million.
BeInCrypto has contacted Fetch.ai and NuNet for comment.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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