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The Wanchain-operated cross-chain bridge connecting Cardano and BNB Chain has suffered a security breach that resulted in the theft of approximately 515 million NIGHT tokens, worth around $13 million. Following the incident, the token's price fell by more than 30%, reaching a new all-time low near $0.016.
The Wanchain team confirmed the exploit and temporarily disabled the bridge while investigating the incident. Representatives of the Midnight Foundation stated that the mainnet, its validators, and its consensus mechanism were not affected.
Signature validation flaw caused the exploit
Researchers at BlockSec determined that the incident was caused by an error in the message encoding mechanism used for signature verification within the bridge's smart contract.
According to the firm's analysis, the attackers were able to reuse a legitimate signature that was originally intended to authorize the transfer of approximately 3,110 NIGHT. By exploiting the vulnerability, they created a transaction worth more than 203 million NIGHT, effectively increasing the amount by roughly 65,000 times.
The stolen tokens were subsequently sold on decentralized exchanges, triggering a sharp decline in the asset's price.
Midnight Foundation says the network remains secure
The Midnight Foundation emphasized that the exploit affected only the third-party cross-chain bridge infrastructure operated by Wanchain.
According to the organization, approximately 515 million NIGHT, or around 2% of the token's total supply, were held in the bridge's reserves and were not part of the circulating supply available on the market.
Project representatives added that the incident had no impact on the Midnight network and does not indicate any vulnerabilities in either the Cardano protocol or the underlying blockchain.
The Wanchain team is currently preparing a detailed report outlining the cause of the exploit and its plans to restore the service.
Cross-chain bridges have previously been targeted by major attacks in 2026. In June, Humanity Protocol lost approximately $31 million after an employee's laptop was compromised.
The attackers gained access to the private keys controlling multisignature wallets used by the project's Ethereum and BNB Chain bridges, allowing them to mint an unlimited number of tokens.
During the second quarter of 2026, the cryptocurrency industry recorded a record number of successful hacking incidents. According to researchers, attackers stole approximately $755 million across 83 separate exploits.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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