Fetch.ai Ethereum contract attack causes about $2.01 million in losses

Fetch.ai’s Ethereum contract is under an ongoing attack, according to monitoring data from Blockaid. The security firm said the incident was still unfolding at the time of its disclosure, with total losses estimated at about $2.01 million. Of that amount, roughly $1.56 million in FET was stolen from a token conversion contract, while another $452,000 in NTX was maliciously minted. Blockaid said the attacker exploited a valid conversion authorization signature in the conversionIn function of TokenConversionManagerV3. Using that signature, the attacker was able to drain the remaining FET inventory held in the converter. The same attacker wallet then went on to mint a large amount of NTX from the NuNet deployer account. The disclosure points to two separate asset impacts within the same incident: stolen FET and newly minted NTX. No additional remediation details, recovery measures, or final loss figures were provided in the source at the time of publication.