A single attacker hit two artificial-intelligence crypto projects within minutes, taking about 8.72 million FET from a Fetch.ai conversion contract and receiving roughly 408.5 million newly minted NuNet (NTX) tokens. The combined value was about $2.01 million at the time, with the FET portion worth around $1.56 million.

In the Fetch.ai case, the attacker used a valid authorizer signature to call the conversionIn function on the TokenConversionManagerV3 contract on Ethereum. That function relied on a single signature as its only check and did not verify that matching tokens had been locked elsewhere, so one call released the converter's remaining FET.

The NuNet tokens came from the project's deployer account, pointing to a compromised minting key. The sudden increase in supply sent NTX down more than 70% within 24 hours to a record low, while FET fell about 5%.

Both incidents came from control of keys rather than a flaw in complex contract logic. The cases show why contracts relying on one signing key need limits and additional checks. The projects' post-incident reports and any changes to key management will be the next step.