The same exploiter was linked to attacks involving Fetch.ai (FET) and NuNet (NTX), with roughly $2 million in assets involved.
Security firms tied both events to the same wallet. NuNet’s token lost more than 70% of its value and touched an all-time low on September 20.
How One Attacker Reached Two Protocols
Blockaid said on September 20 that an exploiter drained about $1.56 million worth of FET from a Fetch.ai token converter on Ethereum. The attacker reportedly used a valid conversion-authorizer signature to call the conversionIn function on TokenConversionManagerV3.
That single call released the converter’s remaining FET inventory. The security firm identified the exploiter wallet as 0x1572…c362.
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According to Blockaid, the Fetch.ai loot wallet also received a large NTX mint from the NuNet deployer account. It estimated the value of the NTX mint at roughly $452,000.
The combined activity across the wallet cluster has reached approximately $2.01 million. PeckShieldAlert added that the exploiter has since swapped the stolen funds for 546.36 ETH, worth roughly $1.44 million at the time of reporting.
NuNet Token Sinks to a Record Low
The reported exploit has put pressure on NuNet’s NTX token. The token hit an all-time low at $0.000328 today. NTX changed hands near $0.0004 at press time, down more than 70% over 24 hours.
FET fell about 5% over the same period, a far smaller move than NuNet’s. That decline came as the wider market sold off, with most major assets in the red and total crypto market capitalization down 4%.
September has been expensive for the sector. Starknet lending protocol Nostra lost $3.5 million to a manipulated oracle three days ago.
DefiLlama had logged roughly $331 million in losses across 17 incidents this month before the Fetch.ai drain, most of it from the $320 million Liquid Network incident. Fetch.ai and NuNet now push the month past $333 million.
Fetch.ai has since addressed the incident. It also shared an on-chain analysis of the exploit.
The team described it as preliminary rather than final. It added that it has deactivated the affected wallets and contract together with SingularityNET, and will share further updates as the investigation continues.
BeInCrypto has reached out to Fetch.ai and NuNet for comment.
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