Wanchain Cardano Bridge Reportedly Exploited, $9 Million in NIGHT Tokens Drained

The Wanchain Cardano bridge has reportedly suffered a security breach, according to BlockSec’s Phalcon, a blockchain security platform. Early findings indicate that around 515 million NIGHT tokens were drained from the bridge treasury.

Preliminary analysis suggests the exploit may be linked to non-injective signed-message encoding in the TreasuryCheck validator, a flaw that could allow attackers to reuse valid signatures. The exact cause and full impact of the incident are still under investigation. 

NIGHT is the native token of Midnight, a privacy-focused blockchain project developed by Input Output (IO), the company behind Cardano. 

Following news of the reported exploit, the NIGHT token plunged more than 30% during intraday trading to approximately $0.016, marking a new all-time low. At current market prices, the compromised tokens are estimated to be worth about $9 million.

Source: BlockSec Phalcon