One of his two remaining sons, Fafnir, entering the hut, slew the dragon before he realized it was his father, and then, fascinated by treasure and ring, bore them off to a lonely heath, where in the guise of a dragon he too mounted guard over them.

This appropriation of these treasures was keenly resented by his brother Regin, who, unable to cope with the robber himself, now begged Sigurd to help him.

Like Mimer in the other version of the tale, Regin was an experienced blacksmith, but, notwithstanding all his skill, Sigurd broke every blade he forged for this task.

Finally the young hero hammered out of the fragments of his dead father's blade a weapon which sheared the anvil in two, and could neatly divide a number of fleeces floating down a stream.
Properly mounted and armed, Sigurd was guided by Regin to the Glittering Heath, the place where Fafnir guarded his gold.

A one-eyed ferry-man (Odin) conveyed the youth across the river, advising him to dig a pit in the track the dragon had worn in his frequent trips to the river to drink.