Bitquery: 70% of AGIX now counterfeit after ASI key mints as $2.25M cash-out sticks
By Crypto Wire
September 20, 2026
Bitquery Research’s September 20 on-chain reconstruction of the ASI Alliance key-compromise night says the lasting damage is not PeckShield’s widely quoted $16.77 million token-inventory snapshot—already covered on 8bitcrypto’s Rug Room desk—but a broken circulating supply. Across Ethereum and Cardano, Bitquery counts 70.1% of outstanding AGIX and 81.1% of CGV as minted in the attack window, with NuNet’s supposedly fixed 1 billion NTX cap blown out to about 1.41 billion. Realized cash-out across two attacker wallets sits near $2.25 million in ether, USDC, and a MetaMask stablecoin—still unmoved at Bitquery’s cut—while three of five bridge signing keys remained live.
Bitquery’s mint table for September 19–20 UTC lists 8,721,530.40 FET drained from Fetch.ai’s converter at 20:21, 408,532,878.13 NTX minted at 20:50, then converter bursts of about 896 million AGIX, 500 million WMTX, and 492 million CGV into the early hours of September 20. Total units minted or drained across five assets: roughly 2.31 billion. Attribute those counts to Bitquery’s Ethereum/Cardano/BNB indexes measured September 20; do not invent pool depths or private-key theft methods the firm says it cannot prove.
The money path, Bitquery says, was almost entirely the FET sale: about 523 ETH from the single converter drain, while later AGIX/WMTX/NTX/CGV dumps returned only about 184 ETH plus roughly $52,395 in stables—thin pools absorbing paper billions. Price prints Bitquery cites include AGIX down about 99%, NTX about 98.8%, and WMTX about 98.6%, with FET off roughly 4.7% in ETH terms. That is why Bitquery calls the $16.77 million holdings figure a pre-crash mark-to-fantasy on one wallet: it prices inventory at levels the attack itself destroyed.
Supply math is the Rug Room tell. Bitquery’s genuine-vs-counterfeit split puts AGIX genuine float near 382.6 million against 896 million fake, CGV genuine near 114.4 million against 492 million fake, WMTX fake share about 32.4%, and NTX fake share about 29% atop a genuine total of 999,480,934—within dust of NuNet’s published 1 billion cap. About 40.1 million counterfeit NTX crossed to Cardano within hours (~one in eleven NTX there). WMTX burned for Ethereum exits hit about 20.7 million tokens in 1,918 transactions on September 20 versus tens or hundreds of thousands on prior days.
Bitquery also says the incident did not stop when coverage settled on 05:36 UTC. After lunch on September 20, a SingularityNET payout contract that had been batching salaries since December 2025 emptied $289,575 USDC into a swept staff-labeled wallet that forwarded it in seconds to attacker wallet 2. Separate from that cash grab, Bitquery describes a recovery wallet—funded by an address that had paid gas to project staff since 2023—racing to seize NuNet and Cogito converter signing keys and freeze NTX, while AGIX and WMTX converters kept bleeding because multisigs own those authorities. Three of the five never-transacting bridge signing keys had still not been rotated when Bitquery published.
Holders sorting exchange deposits should also note Bitquery’s Binance AGIX inflow print: the hot wallet took about 17.2 million AGIX the morning of the mint versus roughly 7,900 five days earlier. That flow does not prove exchange complicity; it shows how fast counterfeit inventory can hit centralized books when bridge keys mint without a matching burn. Keep FET Cardano float empty in the risk checklist too—Bitquery says anyone burning FET on Cardano for Ethereum payout cannot be paid until the drained converter is refilled.
Desks that already filed the PeckShield AGIX/WMTx widening wire should treat this Bitquery package as the supply-integrity and cash-realization follow-up: $2.25 million realized, 70.1% AGIX counterfeit, CGV majority fake, NTX over its fixed cap, USDC payroll drain after “contained” headlines, and live signing keys. Confirm figures against Bitquery’s September 20 investigation before treating any pre-crash token valuation as loss. Attribute all supply percentages, mint tables, and the $289,575 payout to Bitquery Research; attribute earlier PeckShield cluster marks to that firm’s separate alert already logged as post 9414.
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