Midnight's NIGHT token climbed 9% on July 22, 2025, even as news broke that over $13 million worth of the tokens were stolen in a hack targeting the Wanchain bridge. The token was trading at $0.021 at the time of writing.
The Hack on the Wanchain Bridge
The exploit hit the Wanchain bridge, a cross-chain protocol that connects Cardano to BNB Chain. Investigators say the attacker made off with more than $13 million in NIGHT tokens. The bridge was designed to let users move assets between the two blockchains, but a vulnerability allowed the theft.
Market Reaction
Despite the size of the heist, NIGHT's price actually rose 9% on the day of the incident. That kind of move is unusual for a token that just lost a big chunk of its circulating supply to a thief. The token was changing hands at $0.021 as of this writing. The broader crypto market was mixed, with Bitcoin and Ethereum both down slightly.
The team behind the Wanchain bridge hasn't released a full post-mortem yet. Users who had assets locked in the bridge are waiting to see if any funds can be recovered. The hack raises questions about the security of cross-chain bridges, which have been a frequent target for attackers over the past few years. For now, NIGHT holders are watching whether the price can hold its gains or if more selling pressure is coming.
