Wanchain bridge exploit drains US$9M in NIGHT tokens

• A security breach involving Wanchain's Cardano bridge resulted in the theft of around 5.15 million NIGHT (CRYPTO:NIGHT) tokens.
• The stolen tokens were valued at about US$9 million at the time of the exploit.
• The incident has renewed concerns over the security of cross-chain bridge infrastructure.

A security exploit targeting Wanchain's Cardano bridge has resulted in the theft of approximately 5.15 million NIGHT (CRYPTO:NIGHT) tokens worth about US$9 million.

The exploit affected the bridge connecting the Cardano blockchain with other networks, prompting an investigation by the project and its security partners.

Cross-chain bridges allow users to move digital assets between different blockchains, but they have frequently been targeted by attackers because they manage large pools of locked assets.

The Wanchain team said it is investigating the incident, assessing the extent of the losses and working to strengthen security while monitoring the movement of the stolen funds.

Bridge exploits have accounted for some of the largest cryptocurrency thefts in recent years, leading many projects to increase audits, monitoring and security measures.

The incident highlights the ongoing risks facing decentralised finance infrastructure, even as developers continue to improve the security of cross-chain protocols.

At the time of reporting, Midnight price was $0.01962