FET and NTX Exploit Drains $2M as NuNet Supply Surges
Artificial Superintelligence Alliance (FET)
Crowdfundinsider.com reports that a single on-chain actor executed a coordinated exploit against two AI-crypto projects on September 19, 2026. The operator drained 8.72 million FET from Fetch.ai’s TokenConversionManagerV3 contract and minted 408.5 million NTX from NuNet’s deployer account within minutes. This combined haul was valued at approximately $2.01 million, with the drain portion estimated between $1.53 million and $1.56 million.
The shared destination wallet indicates one operator used privileged keys across both codebases rather than two unrelated bugs. The minted NTX tokens represented 42 percent of NuNet’s circulating supply, causing an immediate supply shock. FET prices slipped as traders lost confidence in the Artificial Superintelligence Alliance cluster, while NTX effectively broke.
Reports indicate NTX collapsed between 65 percent and more than 90 percent, dropping from roughly $0.0013 to a few cents of a cent. The cluster converted proceeds into 546 ETH, worth about $1.44 million, narrowing the trail into a liquid asset. Researchers note that both contracts simply executed the commands of their privileged callers. This incident highlights how privilege in shared alliance neighborhoods can travel beyond a single project’s treasury.
How the market reacted
Whalio's own Binance spot order flow for FET, measured when this story was written up on 21 September 2026. Not the outlet's figures.
Whalio’s Binance spot data for FET shows a 24-hour buy ratio of 51.2 percent, indicating a slight majority of buyers over sellers. However, the 1-hour buy ratio stands at 55.3 percent, while the 4-hour ratio drops to 46.9 percent, suggesting that short-term buying pressure is fading relative to the daily average. The 24-hour volume delta is positive at $491,606, with cumulative volume delta (CVD) closing at +$1,754,410, which signals net accumulation over the day. In contrast, the 4-hour volume delta is negative at -$252,286, showing recent selling pressure. The 1-hour volume delta is positive at $62,628, indicating a brief respite in selling. Trading activity remains high with 100,691 trades and $19,851,462 in spot volume over 24 hours.
The latest daily buy ratio of 49.2% sits at the 58th percentile of the last 322 days, against a median of 48.7% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for FET, averaged over the days leading up to the story.
Over the preceding week, FET experienced a 7-day average buy ratio of 48.9 percent, making the current 24-hour reading of 51.2 percent an unusual day with a 2.3 point increase. Volume for the latest day was 1.67 times the average, marking a significantly busier trading period than usual. The price changed by +5.5 percent over eight days, contrasting with the 24-hour volume delta of +$491,606 against a weekly total delta of -$869,856. Only three of the past seven days saw net buying, indicating that this recent positive flow is a deviation from the weekly trend. This suggests a temporary shift in sentiment rather than a sustained weekly reversal.