Wanchain Cardano-side bridge lock address drained of ~515M NIGHT in 14:46–14:55 UTC window, leaving BNB wNIGHT largely unbacked
AI Market Summary
Wanchain's Cardano-side bridge lock address backing wrapped NIGHT on BNB was drained of ~515M NIGHT (~97% of reserves) within minutes, then routed through fresh wallets and heavily sold on Cardano DEXs (~290M+), driving an abrupt ~50% drawdown. While total token supply is unchanged, bridge collateral is largely gone, leaving BNB-side wNIGHT effectively unbacked and impairing redemption/liquidity. Other bridged assets were reportedly unaffected.
Impact level
● High
Affected assets
NIGHT/USDT+19.68%
AI Insight · NIGHT/USDTAI Insight
▼ Bearish
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Between 14:46 and 14:55 UTC on July 22, 2026, Wanchain’s official bridge lock address on the Cardano side was drained, with about 515M NIGHT moved out—roughly 97% of the bridge’s 527M NIGHT reserves. The funds were routed through newly created wallets and more than 290M NIGHT were quickly sold on Cardano DEXs, sending the token down about 50%. Only NIGHT was affected and other bridged tokens were left untouched; on BNB, wNIGHT is now severely undercollateralized and redemptions are effectively broken.
