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What started out as a small exploit of the Fetch.ai’s Ethereum platform evolved into a larger exploit involving two separate projects.
The exploit occurred due to a weak security check in the Artificial Superintelligence Alliance [FET] token converter. Specifically, the FET system accepted a single “approval” without verifying if those approved tokens were actually locked or burned.
After obtaining the private key behind that signature, the attacker created their own approval and withdrew the bridge’s entire FET balance in one transaction. The attacker extracted 8.72 million FET worth about $1.54 million.
Source: X Later, the same wallet cluster would receive an additional 408.5 million newly minted NuNet [NTX]. Those tokens were worth roughly $463,000. The shared destination links both incidents to one operator.
The rapid asset movement suggests an effort to consolidate the proceeds quickly. Collectively, these attacks resulted in losses totaling around $2 million.
As such, these attacks highlight issues regarding contract security, unauthorized token issuances, and potential sell pressure affecting both ecosystems.
NTX takes the bigger hit Price data has shown how the exploitation impacted market pressure on each token. The price of NTX fell from approximately $0.00130000 to $0.00005559. This was a 95.7% drop in value over the course of 408.5 million unauthorized tokens entering circulation.
Source: CoinMarketCap Trading volume rose 131.6% to $168,080, yet the surge failed to support a recovery. This was indicative of heavy sales as well as low demand and thus did not assist in recovering the price of the token. FET took a different route with respect to pricing.
Before the exploitation of the protocol, FET increased in value from $0.1490 to $0.1889 and experienced a gain of nearly 27% over a three-day period.
Source: TradingView The attack pushed FET down to about $0.1711, a roughly 9% decline from its peak.
Since the hacker merely transferred existing FET instead of generating additional FET, there was relatively little dilution of the existing supply of FET, which enabled FET to absorb the impact of the hack.
Security firms have identified a connection between recent exploits targeting Fetch.ai and NuNet, with the incidents resulting in combined losses of approximately $2 million. Both cryptocurrency projects, known for their AI and blockchain-powered solutions, were affected by the same attacker, firms reported.
Coordinated Attacks Affect Fetch.ai and NuNetPeckShield, a blockchain security company, revealed that about 8.7 million FET tokens were drained from a Fetch.ai token converter, assigning a value of $1.53 million to the stolen assets. This sum represented the majority of the overall losses reported in these incidents.
The NuNet project experienced an unauthorized minting event, with its deployer account creating 408.5 million NTX tokens. PeckShield estimated the value of these newly issued tokens at roughly $462,730. As a result, the value of NTX dropped sharply, plummeting by over 90% in subsequent trading, while Fetch.ai’s FET token registered a more modest decline.
Alternative figures provided by security firm Blockaid placed the value of stolen FET tokens at $1.56 million and the NTX mint at $452,000, bringing the total losses to $2.01 million. These assessments indicate that both events contributed significantly to the overall depletion of assets.
Blockaid attributed the exploits to a single wallet address, linking activity across Fetch.ai and NuNet. The use of the same receiving address suggested a coordinated attack, with $1.56 million in FET drained from Fetch.ai and $452,000 in NTX minted without authorization, resulting in nearly $2.01 million in total losses.
PeckShield further reported that the proceeds from these actions were quickly exchanged for 546.36 ETH, which was worth approximately $1.44 million at the time of the transactions.
Mechanics Behind the ExploitBlockaid traced the exploits to a specific wallet, identified as 0x1572…c362, as the common destination for both the stolen FET and newly minted NTX tokens. This finding allowed exchanges and associated projects to monitor and attempt to freeze the movements of the misappropriated funds.
Fetch.ai specializes in autonomous AI agent solutions via its Agentverse platform, while NuNet develops decentralized sharing of GPU and CPU resources. Both initiatives integrate blockchain technology and artificial intelligence in their frameworks.
According to Blockaid, the vulnerability in Fetch.ai was associated with the TokenConversionManagerV3 contract on the Ethereum blockchain. The attacker was able to invoke the conversionIn function using a valid authorization signature, which enabled the release of the remaining FET tokens within the converter contract.
Security firm SlowMist analyzed the flaw further, noting that the conversionIn function required a single external account’s signature as authorization. Unlike the outbound function, this inbound transaction logic did not include a limit verification feature, allowing the exploiter to drain large amounts without triggering additional checks.
Mini dictionary: TokenConversionManagerV3 contract, the smart contract managing conversions between tokens in Fetch.ai, vulnerable due to a missing limit verification in one conversion direction.
Reports did not clarify how the attacker secured a valid signature to authorize the Fetch.ai function, nor how access to NuNet’s deployer account was achieved, leaving key questions open regarding the attack vector.
Market Impact and Wider Industry ContextThe exploit led to a sharp decline in the price of NTX, with the token falling by about 65% and eventually hitting an all-time low of $0.00005338 as trading continued. FET’s drop appeared less severe and coincided with a larger cryptocurrency market downturn, as industry-wide market capitalization slipped 4.1%.
These security incidents contributed to a wave of losses throughout September, with DeFi analytics platform DefiLlama recording 17 security breaches in the month up to September 17, totalling $331 million in losses. The Liquid Network incident on September 6 accounted for $320 million, comprising almost all of the monthly figure and resulting from a major bridge exploit involving unbacked token minting.
DateProjectTypeLossSeptember 19Fetch.aiToken drain$1.53 million (FET)September 19NuNetUnauthorized mint$462,730 (NTX)September 17Nostra Money MarketOracle manipulation$3.5 millionSeptember 12ChainflipBridge logic flaw$736,442September 9NomicCross-chain mint$3.15 millionSeptember 6Liquid NetworkBridge exploit$320 millionOther notable incidents included losses of $3.5 million at Nostra Money Market due to oracle price manipulation, $3.15 million at Nomic from an unbacked cross-chain mint, and $736,442 at Chainflip caused by a bridge logic error. With the addition of new attacks, total September exploits recorded by DefiLlama and security specialists reached approximately $333 million.
The same exploiter was linked to attacks involving Fetch.ai (FET) and NuNet (NTX), with roughly $2 million in assets involved.
Security firms tied both events to the same wallet. NuNet’s token lost more than 70% of its value and touched an all-time low on September 20.
How One Attacker Reached Two ProtocolsBlockaid said on September 20 that an exploiter drained about $1.56 million worth of FET from a Fetch.ai token converter on Ethereum. The attacker reportedly used a valid conversion-authorizer signature to call the conversionIn function on TokenConversionManagerV3.
That single call released the converter’s remaining FET inventory. The security firm identified the exploiter wallet as 0x1572…c362.
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🚨SlowMist TI Alert🚨
💸 @Fetch_ai Loss: ~$2M
🔍 Root Cause: TokenConversionManagerV3's conversionIn() leaves single-EOA ECDSA signature as the sole authorization check. It lacks the checkLimits(amount) modifier present in conversionOut(), and does not verify any on-chain…
— SlowMist (@SlowMist_Team) September 20, 2026
According to Blockaid, the Fetch.ai loot wallet also received a large NTX mint from the NuNet deployer account. It estimated the value of the NTX mint at roughly $452,000.
The combined activity across the wallet cluster has reached approximately $2.01 million. PeckShieldAlert added that the exploiter has since swapped the stolen funds for 546.36 ETH, worth roughly $1.44 million at the time of reporting.
NuNet Token Sinks to a Record LowThe reported exploit has put pressure on NuNet’s NTX token. The token hit an all-time low at $0.000328 today. NTX changed hands near $0.0004 at press time, down more than 70% over 24 hours.
NuNet (NTX) Price Performance. Source: BeInCrypto MarketsFET fell about 5% over the same period, a far smaller move than NuNet’s. That decline came as the wider market sold off, with most major assets in the red and total crypto market capitalization down 4%.
September has been expensive for the sector. Starknet lending protocol Nostra lost $3.5 million to a manipulated oracle three days ago.
DefiLlama had logged roughly $331 million in losses across 17 incidents this month before the Fetch.ai drain, most of it from the $320 million Liquid Network incident. Fetch.ai and NuNet now push the month past $333 million.
BeInCrypto has reached out to Fetch.ai and NuNet for comment.
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Robinhood Chain’s cumulative DEX trading volume has exceeded $60 billion, with Pons contributing around $14 billion.
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Jianying fully transitions to an agent-based model: AI assistants are responsible for video editing, and a creation hub takes charge of the entire production line.
Beating AI Insight News Brief: Jianying doubles down on Agent technology at its AI New Creation Launch Event, rolling out two new offerings in one go: the upgraded "Jianying AI Assistant" and "Creation Hub". The former is dedicated to video editing, while the latter integrates the full workflow from ideation to creation and publishing. The Jianying AI Assistant can now use natural language to perform Agent-powered intelligent editing, bulk remixing, video expansion, and template replacement, and can directly call Seedance 2.5. Users only need to describe their desired edits in natural language, and the Agent will invoke Jianying’s tools to execute specific operations. The Creation Hub has a broader scope: it aims to centralize the entire video process from ideation to final production and publishing, and supports custom Skills, allowing users to save frequently used creative workflows for repeated use. Natural language video editing is not a new feature; Jianying already launched its AI Assistant previously. Now it is taking the next step by turning frequently used editing workflows into Skills, eliminating the need for users to re-specify requirements each time.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Security firms Blockaid and PeckShield say the same attacker hit two separate AI-focused crypto projects on September 19, walking away with close to $2 million combined.
How The Attack Unfolded
The attacker first drained about 8.7 million FET tokens, worth roughly $1.53 million, from a token converter contract belonging to Fetch.ai. According to Blockaid, the same wallet that received those stolen funds was then used to mint 408.5 million unauthorized NTX tokens, worth around $463,000, directly through NuNet’s deployer account. That shared wallet is what links both attacks to a single actor.
Blockaid published the exploiter’s wallet addresses publicly, along with an example transaction, allowing other projects and exchanges to flag and block further movement from those addresses.
Token Prices Take A Hit
NuNet’s NTX token crashed as much as 65-70% following the exploit, according to different trackers, while FET dropped around 10%. The attacker moved quickly to convert a large portion of the stolen funds into 546 ETH, worth roughly $1.44 million, a common tactic used to make stolen crypto harder to trace or freeze.
No Official Response Yet
As of this report, neither Fetch.ai nor NuNet has released an official statement addressing the exploit. Security researchers tracking the incident are urging anyone holding or actively using tokens from either ecosystem to stay cautious until the teams confirm what happened and whether their platforms are safe to use again.
Why This Matters
The incident shows a recurring weak point across AI and compute-focused crypto projects. Smart contract permission structures that, if misconfigured or exploited, can allow an attacker to drain funds from one contract and mint unauthorized tokens on an entirely separate, unrelated project using the same stolen access.
Story Ends Here
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Posemesh announces a groundbreaking partnership with NuNet, a decentralized compute and orchestration platform. This partnership aims to develop the industry by combining advanced spatial computing technologies and decentralized infrastructures. NuNet shared this thrilling news on its official X account, sharing both firms’ common goals and dedication to driving innovation and building the future together.
Big Announcement 📣
We’re thrilled to announce a groundbreaking partnership between The @Posemesh and #NuNet! This collaboration sets new industry standards in spatial computing by combining decentralized infrastructure with cutting-edge technology.
🧠 Discover how we’re… pic.twitter.com/SxFVTs88zH
— NuNet 🌐 (@nunet_global) August 30, 2024 New technologies emerge in the industry periodically, pushing the need for low-latency, secure, and scalable computing solutions. The Posemesh and NuNet partnership will address these challenges by leveraging their capabilities. Posemesh specializes in machine vision and spatial computing, while NuNet offers a cost-effective distributed computer infrastructure considering the number of servers in use.
Creative Approach of Posemesh to Real-Time Tasks Posemesh has several types of servers used to attain individual objectives in spatial computing and relay servers that enable instant near-inter-device communication. Domain servers are responsible for rendering 3D spatial maps and handling large visual & positional data. Relay servers provided on the cloud demand for Posemesh services to improve capabilities as it reduces response time and optimizes hardware resources going into the service delivery.
NuNet’s Role in Optimizing Spatial Computing NuNet’s decentralized structure provides a great advantage in securing and scaling Posemesh’s operations. The platform will assist in automating processes such as secure data replication and operational resilience, lessening the burden and complexity on the compute providers and enhancing data security. This will encourage more usage of decentralized physical infrastructure networks (DePins).
This partnership between Posemesh and NuNet is more than a technical agreement; it contributes to the decentralized ecosystem by yielding advantages to both parties. On the one hand, Posemesh simplifies the deployment and management of servers for its users, while NuNet penetrates an area of spatial computing. The partnership is expected to bring in new developers and computation providers, increasing the DePIN ecosystem’s advancement.
With Posemesh and NuNet collaborating, further developments in decentralized space computing are highly anticipated. This partnership is of great significance, as combining their respective technologies, the two companies aim to strain the limits of the impossible and develop a safe, scalable, and efficient digital landscape for the world.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
NuNet, a decentralized peer-to-peer network for sharing computing power, has announced the launch of Cardano-based payments.
NuNet made the announcement following a successful demonstration of decentralized compute payments on the Cardano blockchain. The event confirms real-world functionality rather than a conceptual roadmap, signaling readiness for broader adoption.
Key Points NuNet has launched Cardano-based payments for its decentralized peer-to-peer compute network. This support follows the release of Device Management Service (DMS) v0.9.0, which expands contract settlement beyond Ethereum. The system allows seamless switching between Ethereum and Cardano within a single payment flow. While Cardano payments are now live, the network’s native NTX token will continue to drive coordination and orchestration. Adding Cardano support represents a key milestone ahead of NuNet’s mainnet launch, scheduled for early March. NuNet Expands Contract Payments Beyond Ethereum NuNet positioned itself as a multi-blockchain decentralized compute marketplace but relied primarily on Ethereum for settlement, in line with broader Web3 standards. However, earlier this month, the project reached a key milestone with the release of Device Management Service (DMS) v0.9.0.
With this update, NuNet added Cardano support to its payment system, extending settlement beyond Ethereum and strengthening its multi-chain architecture. As a result, users can now deploy compute jobs and pay directly with ADA, while the NTX token continues to drive network coordination and orchestration.
Moreover, the system allows seamless switching between Ethereum and Cardano, delivering a production-ready payment flow from deployment through settlement. Overall, this upgrade builds on earlier infrastructure improvements and positions NuNet for its live phase with full multi-blockchain support.
NuNet Gears Up for Mainnet Launch According to NuNet, activating Cardano payments represents a pivotal step toward its mainnet launch. The mainnet infrastructure is scheduled to go live on March 2, 2026, marking the transition from testing to a fully operational decentralized compute economy.
In a statement, the NuNet team emphasized that its infrastructure is now ready for global adoption. Following the deployment of Cardano-based payments, the project stated that it has showcased its ability to deliver seamless payments, multi-blockchain support, and real-world utility.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
NuNet, a renowned decentralized computing firm, has partnered with Serverista, an efficient VPS provider and dedicated server. The partnership attempts to offer production-scale infrastructure for NuNet’s ecosystem to make decentralized computing relatively cost-efficient, scalable, and accessible. As per NuNet’s official press release, the development significantly benefits organizations and developers. With this move, the NuNet consumers can seamlessly deploy their AI workloads, orchestration-led applications, and blockchain nodes without depending on centrally controlled providers.
NuNet × Serverista Partnership Announcement 🤝
Decentralized computing is maturing, and real-world applications require infrastructure that is reliable, affordable, and scalable.
We’re excited to announce our partnership with Serverista, integrating dedicated server and…
— NuNet 🌐 (@nunet_global) January 29, 2026 NuNet Officially Integrates Cost-Efficient Infrastructure to Drive Decentralized Compute As a part of this collaboration, NuNet is leveraging the reliable and affordable production-grade infrastructure of Serverista. This will serve as a crucial foundation for the advancement of NuNet’s vision of a completely decentralized compute economy. Conventional cloud providers like Azure, Google Cloud, and AWS impose high costs, hindering AI adoption, large-scale orchestration, and blockchain validation. Keeping this in view, Serverista offers dedicated services as well as VPS instances with nearly 10x lower charges, without any compromise on reliability or performance.
Apart from that, the integration of Serverista’s infrastructure permits companies and developers to get access to enterprise-level computing resources for scaling, deploying, and testing decentralized applications. The development also backs a combined cloud approach, letting businesses migrate hefty workloads to cost-efficient, dedicated infrastructure, alongside retaining specialized cloud solutions for analytics as well as other operations. As a result, this partnership decreases the overheads and also boosts transparency and predictability when it comes to decentralized workload pricing.
Simultaneously, Serverista’s offering aims to meet the requirements of exclusive decentralized projects. In this respect, dedicated VPS services enable efficient working of NuNet nodes while also dealing with diverse DePIN projects. Moreover, the enterprise-level dedicated services deliver significant computational power to drive wide-scale orchestration tasks, latency-sensitive applications, and high-volume data processing. At the same time, the joint effort fortifies AI and blockchain capabilities, enabling the deployment of validator nodes, indexing applications, and RPC services for builders with dependable uptime.
Making Decentralized Computing Reliable and Scalable for Enterprises and Developers According to NuNet, the collaboration leverages the platform’s Logical Orchestration Layer and Device Management Service to ensure the dynamical distribution of workloads across the infrastructure of Servista. This optimizes both the cost-effectiveness and performance. Furthermore, by merging high-quality infrastructure with decentralized orchestration, this move refines integration processes. Together, both entities are developing a decentralized computing ecosystem with reliability, accessibility, and scalability for enterprises, developers, and worldwide computing community.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
