Hackers drained 515 million NIGHT tokens from Wanchain’s Cardano bridge, triggering a record low and $9 million loss.
Hackers exploited Wanchain’s Cardano bridge, draining approximately 515 million NIGHT tokens from its treasury. The breach, linked to a potential signature reuse vulnerability, wiped out roughly $9 million in value based on current prices.
NIGHT, the native token of Midnight—a privacy-focused blockchain incubated by Cardano developer Input Output—crashed over 30% intraday to $0.016, marking its lowest level on record. Initial analysis points to flaws in the TreasuryCheck validator’s signed-message encoding.
The incident highlights ongoing security risks in cross-chain bridges, a frequent target for exploits in decentralized finance.