Cardano’s NIGHT Hits All-Time Low After 290M Token Dump
🚨 NIGHT token plummeted over 43% to an all-time low of $0.01524 amid speculation of a hack, but the Midnight Foundation clarified it was due to a large withdrawal from a Wanchain contract.
🔍 Independent research revealed that 515 million NIGHT tokens were withdrawn, with 290 million sold on decentralized exchanges, leading to the drastic price drop, while the total supply remained unchanged.
🛡️ Cardano co-founder Charles Hoskinson emphasized the need for improved bridge security, citing vulnerabilities in cross-chain infrastructure and the growing threat of AI tools exploiting these weaknesses.
🚨 NIGHT token plummeted over 43% to an all-time low of $0.01524 amid speculation of a hack, but the Midnight Foundation clarified it was due to a large withdrawal from a Wanchain contract.
🔍 Independent research revealed that 515 million NIGHT tokens were withdrawn, with 290 million sold on decentralized exchanges, leading to the drastic price drop, while the total supply remained unchanged.
🛡️ Cardano co-founder Charles Hoskinson emphasized the need for improved bridge security, citing vulnerabilities in cross-chain infrastructure and the growing threat of AI tools exploiting these weaknesses.