NuNet NTX Don Fall More Than 70% After Dem Mint Unauthorized Token

NuNet NTX token lose pass 70% of im value after the unauthorized mint on September 19, 2026. The decline happen after sudden creation of hundreds of millions of tokens, no be say NuNet announce say dem don end development or shut down im decentralized compute network.

Blockaid and PeckShield connect the NuNet transaction with earlier withdrawal from one Fetch.ai conversion contract. Around $2 million for combined assets dey involved across the two incidents.

Fetch.ai and NuNet Transactions Lead to the Same Wallet

The attacker first remove about 8.7 million FET, wey worth around $1.5 million that time, from Fetch.ai TokenConversionManagerV3 contract for Ethereum.

According to Blockaid, the transaction use valid conversion-authorizer signature to call the contract conversionIn function and release the remaining token inventory. How dem take obtain that authorization never clear publicly.

The receiving wallet later connect to about 408.5 million newly minted NuNet tokens wey originate from the project deployer account. The tokens dey valued around $460,000 when dem first identify the activity.

PeckShield later report say part of the proceeds don convert to about 546.36 ETH, worth around $1.44 million that time. The common receiving wallet na the public on-chain link between the Fetch.ai withdrawal and the NuNet mint, even though none of the projects don publish complete technical explanation as at the time of writing.

The unauthorized tokens equal about 40.85% of NuNet stated maximum supply of one billion tokens. Market data record decline of pass 70%, and the Cardano trading pair for DexHunter show the biggest downward move around September 19.

NuNet Cardano Compute Network Still Dey Work

NuNet na decentralized compute orchestration protocol wey dem develop from research wey incubate inside the SingularityNET ecosystem. E connect GPUs, CPUs, edge devices, laptops and data center infrastructure through one peer-to-peer compute network.

Instead make users dey browse conventional hardware marketplace and select individual machines, workloads go just describe their technical requirements. The protocol go then match them with available resources based on factors like hardware type, location, latency and cost.

NuNet launch im Network Live environment on March 2, 2026. The official website still show say the network dey operational on September 20, and im documentation and public infrastructure still dey available.

The token dey provide access to the network, support commitments from compute providers, settle payments between providers and users, and cover protocol fees for workload orchestration. NuNet support settlement across Ethereum and Cardano with multichain model wey get one-to-one token conversion.

Security reports place the unauthorized mint for the Ethereum side and identify NuNet deployer account as the origin. Dem no identify any exploit of the Cardano blockchain or the Cardano-native minting policy. The price shock still reach Cardano markets because traders and liquidity providers dey treat the two versions as representations of the same economic asset.

Unauthorized Mint Leave Questions About NuNet Supply Unresolved

NuNet describe im total token supply as fixed at one billion and talk say no additional tokens suppose dey created. So the unauthorized creation of 408.5 million tokens raise immediate questions about minting authority and the integrity of im multichain supply accounting.

As at the time of writing, NuNet never publish incident report to explain whether deployer credentials don compromise, whether dem don disable further minting or whether the affected tokens fit freeze, invalidate or burn. The team never announce compensation plan too.

NuNet operational compute network and the security of im token controls don turn two separate issues. Continued network activity confirm say the product still dey available, but e no resolve the unauthorized supply wey the Ethereum deployer account create.

Technical post-mortem fit close that gap by identifying the authorization path, confirm the status of all deployer permissions and provide chain-by-chain accounting of the affected tokens. Until dem publish those details, the compute network still dey live while the integrity of the token layer still never resolve.