SingularityNET bridge (ASI Alliance FET converter) and NuNet minter: stale keys used

What happened

• 19 Sep 2026: 8,721,530 FET (about USD 1.55M) withdrawn from the Ethereum TokenConversionManagerV3 contract. 29 minutes later 408.5M NTX was minted by a NuNet minter key dormant since March 2023. Some outlets put total impact at USD 16.77M including NTX, AGIX and WMTx mints.
• Root cause: a compromised backend authorization key. The withdrawal carried a valid signature from the trusted address. Athena’s forensic report (cited by CryptoSlate) adds that the 1M FET cap was not enforced on conversionIn and the signed message did not bind the recipient. How the key was obtained is not disclosed.
• Attribution: none.
• Response: Fetch.ai and SingularityNET paused AGIX-to-FET conversions and the Ethereum bridge contract. Athena reported the compromised credentials were still not rotated about five hours later.

Sources

• https://cryptoslate.com/one-wallet-links-1-55-million-fetchai-theft-to-massive-408-5-million-ntx-mint/
• https://www.kucoin.com/blog/ae-fetch-ai-fet-exploit-1-56m-drained-from-token-converter-after-signing-key-compromise

This is a brief: a short, sourced summary from our incident tracking. Full advisories add commands to check whether you are affected.