An unnamed exploiter stole approximately 8.7 million FET tokens and minted 408.5 million NTX tokens from Fetch.ai and NuNet contracts on the Ethereum blockchain. Total losses reached $2.01 million, comprising a $1.56 million drain from a converter and $452,000 in minted NTX. The attacker used a leaked authorizer private key to sign a message for their own address and empty the bridge's FET balance in one call.

The vulnerability existed in TokenConversionManagerV3, where a single signature served as the sole authorization check without verifying on-chain burn proofs or amount limits. Security firms SlowMist and Blockaid identified the vulnerable contract and the attacker's wallet address while the breach was active.

NuNet's NTX token price dropped 65% following the discovery of the unauthorized mint. The exploiter swapped the stolen assets for 546.36 ETH, worth $1.44 million, and moved the funds out of the compromised contracts.