Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp
Charles Hoskinson says the exploit, which briefly sent NIGHT to an all-time low, underscores why the industry needs to move beyond legacy bridge infrastructure.
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Summary
- A Wanchain bridge exploit on Monday drained 290 million NIGHT tokens, sending the price down roughly 43% to an all-time low before a partial recovery brought it back nearly 19% within 24 hours.
- Hoskinson blamed legacy bridge architecture built by a third party and said AI-powered exploit discovery is accelerating vulnerabilities across all software, not just crypto.
- He argued zero-knowledge systems like Midnight are the long-term fix, replacing trust in bridge operators and multisigs with cryptographic proofs.
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In Q2; TRON’s stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
In Q2; TRON’s stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
Why it matters:
In Q2; TRON’s stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
