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Midnight’s NIGHT hits record low after 515M tokens drained via bridge

The attacker withdrew about 515 million NIGHT tokens from Wanchain-operated bridge infrastructure, pushing NIGHT down more than 30% to near $0.015 and worth roughly $9 million to $10 million at the time.

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CryptoSlate reports that an exploit tied to a Cardano-connected bridge sent Midnight’s NIGHT token to an all-time low on July 20, after an attacker drained roughly 515 million tokens from infrastructure operated by Wanchain.

The stolen tokens were removed from a Cardano-side lock address that backed NIGHT bridged to BNB Chain, leaving only a fraction of the bridge’s earlier reserves. NIGHT fell more than 30% during the fallout and touched a record low near $0.015, with the assets valued at roughly $9 million to $10 million at the time of the sell-off.

Wanchain suspended the affected Cardano-to-BNB Chain bridge and began investigating. Blockchain security firm BlockSec said preliminary analysis pointed to a possible issue in the TreasuryCheck validator’s signed-message encoding that could have allowed a previously valid signature to be reused with different transaction data.

Midnight said the breach was confined to third-party bridge infrastructure and did not disrupt its protocol, validator network, consensus system, or core infrastructure, and that the Cardano-side NIGHT smart contract continued functioning. The Midnight Foundation and response efforts included Binance, Kraken, KuCoin, Bybit, OKX, Gate, and MEXC to limit movement of stolen assets through account freezes or restrictions, blacklisting attacker-linked wallets, and suspending NIGHT deposits and withdrawals where necessary, while Cardano founder Charles Hoskinson said audits are needed to establish “ground truth” on the failure and responsibility.

Latest closeBNB $570.14 ▼0.6%

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