Fetch.ai and NuNet hit by $2M exploit, NTX price plummets
6.7 Security Fetch.ai and NuNet lost $2M in a coordinated exploit. The attacker drained FET, minted NTX, crashed NTX’s price by 65%, and converted stolen funds to ETH.
Fetch.ai and NuNet suffered a coordinated exploit resulting in the loss of approximately $2 million in crypto assets. The same attacker targeted both projects, draining $1.53–$1.56 million in FET tokens from Fetch.ai’s TokenConversionManagerV3 contract and minting 408.5 million NTX tokens from NuNet, valued at $452,000–$462,700. Security firms traced the attacker’s wallet and revealed that valid authorization signatures were used, enabling the bypass of contract safeguards. Following the attack, NuNet’s NTX token price plunged by over 65–70% to an all-time low, while Fetch.ai’s FET experienced a smaller decline. The attacker converted much of the stolen funds into 546.36 ETH, worth about $1.44 million. This incident underscores persistent vulnerabilities in smart contract security across DeFi protocols.
