Fetch AI Suffers $1.54M Loss in Ethereum Exploit

A recent exploit on the Ethereum network has resulted in a significant loss for Fetch AI. The token converter contract of FET was compromised, draining $1.54 million from it.

The same actors behind the exploit also managed to collect an additional $452,000 worth of NTX tokens from the nunet_global deployer. This total haul amounts to $2.01 million.

Despite this setback, the price of FET currently holds steady above its EMA50 support at $0.17 and EMA200 at $0.16. However, the MACD has printed a death cross, which could indicate a potential reversal in the near future.