A bridge infrastructure connected to SingularityNET was exploited, leading to unauthorized minting of approximately 53.8M tokens on Ethereum and causing WMTX to drop ~50%. The post clarifies that Cardano itself was not hacked, emphasizing the distinction between bridge risk and blockchain risk.
On September 19–20, 2026, the SingularityNET Ethereum–Cardano bridge was compromised when an attacker with admin signing keys minted millions of unbacked tokens (FET, AGIX, WMTX, NTX, CGV) without burning collateral, draining approximately 8.7 million FET and creating billions in unsupported supply across tokens. The bridge was subsequently shut down as a precaution, though closing the website did not revoke the compromised keys that enabled the unauthorized minting.
Two DeFi protocols experienced security exploits in September 2026. World Mobile Token (WMTX) dropped 50% after a SingularityNET bridge exploit minted 53.8M unauthorized tokens on Ethereum, though Cardano itself was unaffected. CICADA Finance completed recovery following an rtUSQ exploit, migrating assets from pre-incident snapshots and deploying new contracts with restored liquidity and protocol functions.
On September 19–20, 2026, the SingularityNET Ethereum–Cardano bridge was compromised when an attacker with admin/signing keys minted hundreds of millions of unbacked tokens (AGIX, FET, NTX, WMTX, CGV) without corresponding burns, draining ~8.7 million FET and causing significant token dilution and price crashes. World Mobile and other affected projects halted trading, initiated containment and snapshot reconciliation, while exchanges froze deposits and the community debated responsibility and recovery efforts.
WMChain confirmed unauthorized minting of WMTX tokens in a SingularityNET bridge exploit, as discussed in trending posts on X.