Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp

FinanceMidnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revampCharles Hoskinson says the exploit, which briefly sent NIGHT to an all-time low, underscores why the industry needs to move beyond legacy bridge infrastructure.By Oliver Knight|Edited by Jamie Crawley Jul 22, 2026, 11:45 a.m. 1 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowA 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.Midnight's NIGHT token staged a sharp recovery after crashing to an all-time low following a bridge exploit earlier this week, with Charles Hoskinson using the incident to make a broader case for rethinking crypto security from the ground up.NIGHT fell roughly 43% after 290 million tokens were stolen and dumped through a legacy Wanchain bridge on the Binance-Cardano corridor. The token has since bounced nearly 19% in 24 hours, trading around $0.022. Hoskinson pushed back at coverage that focused only on the crash. "Magically, they forget to mention the rebound," he posted on X.Hoskinson described the hack as a "case of the Mondays" in an interview with CoinDesk but did acknowledge its seriousness in the broader context."All software is under this enormous assault," he said, pointing to a surge in Linux kernel vulnerabilities he attributed to AI-powered exploit discovery. He was direct about the limits of even well-built systems: "That's like being 90% resistant to a deadly disease. If you're exposed to it enough, eventually…

Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp

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