SingularityNET Contract Exploit Forces Fetch.ai to Pause AGIX-FET Conversions

A recent exploit on SingularityNET's contract has led to Fetch.ai pausing AGIX-FET conversions due to concerns about potential token inflation. According to Fetch.ai, their own contracts remain unaffected by the breach, and FET token operations continue normally.

The incident occurred on September 19, with the unauthorized mint carried out through SingularityNET's Bridge between Ethereum and Cardano chains.

Fetched.ai has taken precautionary measures by pausing two specific services connected to the incident: AGIX to FET conversions and its own bridge contract on the Ethereum side. Although there is no indication of any vulnerability in Fetch.ai's own contract, the company wants to err on the side of caution.