Fetch.ai Converter and NuNet Linked to Reported $2M Exploit

Key Takeaways

• PeckShield reported about $2 million in affected assets involving Fetch.ai's FET and NuNet's NTX on September 19.
• Ethereum records show an 8.72 million FET transfer and a 408.53 million NTX mint reaching the same address, less than half an hour apart.

Details

Security monitor PeckShield reported on September 19 that the same exploiter had targeted Fetch.ai and NuNet, estimating roughly $2 million in affected crypto assets. Its assessment covered FET transferred out and newly minted NTX; it was a preliminary estimate, not a final loss accounting.

Onchain Lens separately reported that FET had been drained from Fetch.ai's token converter on Ethereum and that the same cluster received newly minted tokens from NuNet's deployer. Both reports identify related activity, but neither establishes the attack's underlying cause.

The Ethereum transaction records provide a more precise timeline. A successful converter transaction at 20:21:47 UTC on September 19 transferred about 8.72 million FET. At 20:50:11 UTC, a second transaction minted about 408.53 million NTX to the same recipient. The two transactions were 28 minutes and 24 seconds apart. These records establish the amounts and shared destination; the exploit attribution comes from the monitoring reports.

PeckShield valued the FET at approximately $1.53 million and the NTX at $462,730. It also reported that the exploiter had swapped assets for 546.36 ETH, worth about $1.44 million at its reporting snapshot. Those proceeds describe a later step in the reported activity and should not be added to the roughly $2 million asset estimate.

Market Analysis

The two token movements have different implications. The FET transaction moved an existing balance out of the converter, while the NTX transaction created additional tokens. That distinction matters when assessing the incident: converter balances and token issuance need separate accounting, as do the initial asset valuations and what was subsequently realized through swaps.

Sources

PeckShield and Onchain Lens, September 19, 2026; Ethereum transaction records via Blockscout, September 19, 2026, checked September 20.

Note: This article is for news reporting purposes only and does not constitute investment advice.