FET, the token of Artificial Superintelligence Alliance, traded at $0.1773 after falling 1.53% over the previous 24 hours. The decline followed reports of a bridge exploit linked to the FET migration system, though Fetch.ai said its own contracts were not affected by the incident and continued to operate normally across its network.

According to the announcement, the attack targeted SingularityNET contracts, primarily the bridge connecting Ethereum and Cardano. Fetch.ai said unauthorized minting occurred through that route during the incident. Cross-chain bridges of this kind hold pooled assets while moving value between separate blockchains, a structure that has been repeatedly exploited in some of the industry's largest security incidents. Following the disclosure, the Artificial Superintelligence Alliance reported that an unauthorized party had withdrawn approximately $1.56 million in FET, saying the funds came from the converter connected to the migration system.

The alliance said treasury and exchange wallets were not affected by the breach, and that FET held in private wallets or on exchanges remained unaffected. Holders were told that no action was required at the time, and the FET price showed only a limited reaction to the exploit.

Fetch.ai Halts AGIX-to-FET Conversions Following the Exploit

Fetch.ai paused AGIX-to-FET conversions while investigators review the affected bridge. The company also suspended its Ethereum-side bridge contract as a precaution, stating there was no indication that this contract contained the exploited weakness. Both services are expected to return after further security checks.

Bridge services play a separate role from normal token transfers on the Fetch.ai network. Their temporary suspension limits conversion activity while teams examine the affected contracts and transaction history, leaving holders of legacy AGIX unable to complete conversions until the service returns. Normal FET trading remains available.

The company said the exploit had been contained, while the investigation remains active. Fetch.ai is working with the SingularityNET team and external security partners. The teams have not yet published a full technical report on the breach, and further verified updates are expected after investigators complete their review.

The event centers on migration infrastructure used by members of the Artificial Superintelligence Alliance, the collaboration formed by Fetch.ai, SingularityNET, and Ocean Protocol. Under earlier migration plans, AGIX, SingularityNET's token, and OCEAN, issued by Ocean Protocol, were combined into FET as the projects moved toward a shared token framework, allowing users to convert supported tokens along the way. The latest pause affects AGIX-to-FET conversions rather than normal FET network operations.

Fetch.ai said no Fetch.ai contract was under threat when it published its update. The distinction matters because the reported breach involved connected bridge infrastructure, not the core Fetch.ai contracts.

FET Defends Key Fibonacci Support After Security News

FET remained under selling pressure after the security news entered the market. According to a crypto analyst, the chart showed FET holding near the 50% Fibonacci retracement at $0.1697, an important short-term support area for the token. Immediate resistance sits near $0.1741, followed by the $0.1795 Fibonacci level, and stronger buying pressure would be needed for FET to hold above those levels.

Source: X

The chart also showed recent higher lows and higher highs from the August bottom near $0.12. That structure remains intact while FET stays above its recent higher-low region. The next major resistance sits near $0.1883 and $0.1905, and a daily close above $0.1905 would confirm a stronger breakout from the current range.

According to the analyst, downside support sits near $0.1653 and $0.1604 if selling pressure increases. The more important structural support remains around $0.1512 on the chart, and a move below that area would break the recent higher-low pattern.