Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp
CoinDesk 2026-07-22 11:45:42
Context: The Midnight token, also known as NIGHT, experienced a significant rebound of 19% following a hack on the Wanchain bridge, which had initially caused the token's value to plummet to an all-time low. Charles Hoskinson, a prominent figure in the industry, has called for a major overhaul of the current zero-knowledge (ZK) proof systems used in blockchain infrastructure. This incident highlights the vulnerabilities of legacy bridge infrastructure.
Key Facts
- The Wanchain bridge hack caused the Midnight token, NIGHT, to briefly reach an all-time low before rebounding 19%.
- Charles Hoskinson argues that the exploit underscores the need for the industry to move beyond legacy bridge infrastructure and adopt more advanced solutions.
- The incident has sparked a call for a revamp of zero-knowledge proof systems, which are currently used in blockchain infrastructure, with Hoskinson advocating for a significant industry overhaul.