Svmuu News: Wanchain’s cross-chain bridge was hit by an exploit on Monday, resulting in the transfer of 290 million NIGHT tokens. The price of NIGHT briefly dropped by approximately 43% to an all-time low before partially rebounding by nearly 19% within 24 hours.
Charles Hoskinson stated that the issue stemmed from an outdated cross-chain bridge architecture built by a third party, noting that AI-driven vulnerability detection is accelerating the exposure of flaws in all software, not just in the crypto space.
He believes that zero-knowledge systems, such as Midnight, represent a long-term solution, as they can replace trust in cross-chain bridge operators and multi-signature mechanisms with cryptographic proofs.