A single attacker successfully drained assets worth approximately $2.01 million from Fetch.ai and NuNet. Security firms Blockaid and SlowMist linked both incidents to the same wallet address, 0x1572…c362. The breach at Fetch.ai involved the theft of FET tokens valued at $1.56 million from a converter on the Ethereum network.
The attacker exploited the TokenConversionManagerV3 contract by using a valid conversion-authorizer signature to trigger the conversionIn function. Additionally, the same wallet received a large mint of NTX tokens from the NuNet deployer account, estimated at $452,000. The stolen funds were subsequently swapped for 546.36 ETH, valued at roughly $1.44 million.
Following the exploit, the value of the NuNet NTX token dropped by more than 70% within 24 hours, reaching an all-time low of $0.000328 on September 20. Meanwhile, the FET token price declined by approximately 5%. These incidents contribute to a broader trend of security breaches in the sector, which have resulted in over $333 million in losses throughout September.
Data from DefiLlama indicates that prior to the Fetch.ai incident, the sector had already recorded losses of roughly $331 million across 17 separate events this month. This total includes a $3.5 million loss from the Starknet lending protocol Nostra and a $320 million incident involving the Liquid Network. Both Fetch.ai and NuNet have been contacted for comment.
