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.
- 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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Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters :
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Russia’s largest bank Sberbank plans crypto trading infrastructure by December
North Korea arrests hackers accused of laundering stolen funds from country's bank via crypto
Robinhood Chain's real-world assets jump fivefold as tokenized stocks start trading in bigger size
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