Coordinated Crypto Hack Drains Fetch.ai and NuNet, Crashes SingularityNET Token 99%

A single attacker has been tied to a coordinated series of exploits against three crypto projects, leading to roughly $2 million in losses at Fetch.ai and NuNet and a near-total collapse in the price of SingularityNET's AGIX token.

Blockchain security firm PeckShield traced the activity across the Ethereum network, finding that the same address was responsible for unauthorized token minting and asset seizures at all three protocols. The most severe damage hit SingularityNET, where the attacker created 260 million AGIX and 53.838 million WMTX tokens out of thin air.

The illicit issuance flooded the market with new supply. AGIX plunged more than 99% over a 24-hour period, essentially wiping out the token's value. NuNet's NTX also suffered steep losses, falling about 65% after news of the breach spread.

Breakdown of the Attack

The assault unfolded in stages across the three platforms. At Fetch.ai, the attacker made off with 8.7 million FET tokens, valued at approximately $1.53 million at the time of the incident. At NuNet, the same actor minted 408.5 million NTX tokens without authorization, worth around $462,000.

Note: Values reflect estimates at the time of the attacks. The AGIX and WMTX figures represent tokens minted without authorization.