Fetch.ai Exploit Spreads to AGIX and WMTx, Losses Climb Past $16.7 Million

A crypto exploit that surfaced with the theft of Fetch.ai's FET tokens has grown far beyond its initial scope, drawing in SingularityNET's AGIX and World Mobile's WMTx tokens. Total losses are now estimated at least $16.7 million, a sharp escalation from the roughly $2 million first attributed to the incident.

The attack began on Ethereum-based Fetch.ai token converters, where 8.7 million FET, worth around $1.5 million (also cited as $1.53 million), were drained. Around the same time, an attacker gained unauthorized access to a NuNet account and minted 408.5 million NTX tokens, valued at $462.73 thousand, transferring them to the same address used in the FET theft.

Blockchain security firm PeckShield was first to link the two incidents. "The same exploiter has exploited both @Fetch_ai & @nunet_global, totaling ~$2M in crypto losses: 8.7M ethereum:0xaea46a60368a7bd060eec7df8cba43b7ef41ad85 ($1.53M) drained &408.5M NTX ($462.73K) minted," the firm wrote on X, under the handle PeckShieldAlert.

The minting of NTX had an immediate effect on the token's market price. PeckShield reported that "NuNet's $NTX has dropped ~65%. The exploiter has swapped the…", pointing to the attacker offloading the newly created supply.

Exploit widens to AGIX and WMTx

What initially looked like a contained incident affecting two projects has since expanded. PeckShield identified the same exploiter behind unauthorized minting of 260 million AGIX tokens tied to SingularityNET and 53.838 million WMTx tokens tied to World Mobile, both minted on Ethereum. The combined scale of the unauthorized minting across FET, NTX, AGIX and WMTx has pushed the estimated minimum financial damage of the overall incident to at least $16.7 million.

Fetch.ai's response

In response, Fetch.ai stopped AGIX-FET conversion with immediate effect and suspended its Ethereum bridge as a precaution. According to the company's current findings, its central smart contracts have not been compromised, suggesting the exploit routed through peripheral infrastructure such as token converters and connected accounts rather than the core protocol itself.

The incident underscores the exposure created by token bridges and minting mechanisms that sit adjacent to otherwise secure smart contract systems. For a project ecosystem spanning Fetch.ai, SingularityNET, NuNet and World Mobile, the fallout has already reached well beyond the original FET theft, with the full extent of the damage still being tallied across four separate tokens.