Simultaneous Crypto Heist: Attacker Drains $2M, Crashes Market

On Saturday night into Sunday morning, an attacker managed to compromise two separate crypto projects almost simultaneously, draining approximately $2 million from both.

The first attack targeted Fetch.ai's token converter, where a compromised signing key allowed the attacker to create a fresh valid message pointing to their own address. This led to 8.72 million FET being drained, worth around $1.55 million at the time.

In the second attack, the same operator gained the ability to mint new NTX tokens. Roughly 408.5 million NTX were created, equivalent to about 42% of the token's supply, and valued at around $452,000 to $463,000 at the time.

Fetch.ai connected both attacks to the same wallet cluster and found that a backend signing key used by SingularityNET's cross-chain bridge was compromised. The team is still investigating how these credentials were obtained.