Wanchain Cross-Chain Bridge Exploit Leads to Theft of 290M NIGHT Tokens
AI Market Summary
Wanchain's cross-chain bridge exploit enabled the transfer of 290M NIGHT tokens, triggering a sharp selloff and heightened counterparty-risk concerns around bridge security. The partial rebound does little to offset damage to confidence and liquidity in the affected token. Hoskinson's comments frame the event as a structural issue in third-party bridge design, reinforcing near-term risk aversion toward cross-chain infrastructure.
Impact level
● Medium
Affected assets
NIGHT/USDT+3.51%
AI Insight · NIGHT/USDTAI Insight
▼ Bearish
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Odaily Planet Daily reported that Wanchain's cross-chain bridge was exploited on Monday, enabling the transfer of 290 million NIGHT tokens. NIGHT slid about 43% to a record low before rebounding nearly 19% over the following 24 hours.
Charles Hoskinson said the breach was tied to an outdated bridge design built by a third party. He added that AI-driven vulnerability detection is speeding up the discovery of weaknesses across all software, not just in crypto. In his view, zero-knowledge systems such as Midnight offer a longer-term path forward by replacing reliance on bridge operators and multisig arrangements with cryptographic proofs.
