Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp
The Midnight token price rebounded after a hack on the Wanchain bridge resulted in the theft of 290 million tokens. Charles Hoskinson addressed the incident, emphasizing the need for zero-knowledge systems to replace vulnerable bridge architectures.
Why it matters
Bridge hacks remain a critical security vulnerability in the cryptocurrency ecosystem, highlighting the ongoing debate over decentralized security infrastructure.
NIGHT fell roughly 43% after 290 million tokens were stolen and dumped through a legacy Wanchain bridge on the Binance-Cardano corridor. The token has since bounced nearly 19% in 24 hours, trading around $0.022. Hoskinson pushed back at coverage that focused only on the crash. "Magically, they forget to mention the rebound," he posted on X .
Hoskinson described the hack as a "case of the Mondays" in an interview with CoinDesk but did acknowledge its seriousness in the broader context.
"All software is under this enormous assault," he said, pointing to a surge in Linux kernel vulnerabilities he attributed to AI-powered exploit discovery. He was direct about the limits of even well-built systems: "That's like being 90% resistant to a deadly disease. If you're exposed to it enough, eventually you still catch the disease."
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