Fetch.ai and NuNet Hit with $2M Crypto Heist
A recent attack on Fetch.ai and NuNet has left the cryptocurrency community shaken. On September 19, an attacker stole nearly $2 million from both projects in a single incident.
The hacker first drained approximately 8.7 million FET tokens worth around $1.53 million from Fetch.ai's token converter contract. The stolen funds were then used to mint 408.5 million unauthorized NTX tokens, worth roughly $463,000, through NuNet's deployer account.
The same wallet that received the stolen funds is what links both attacks to a single actor. Blockaid has published the exploiter’s wallet addresses publicly, along with an example transaction, allowing other projects and exchanges to flag and block further movement from those addresses.
NuNet's NTX token crashed by as much as 65-70% following the exploit, while FET dropped around 10%. The attacker moved quickly to convert a large portion of the stolen funds into 546 ETH, worth roughly $1.44 million, making it harder to trace or freeze the funds.