Wanchain Bridge Hacked: Thief Makes Off with $10M in Midnight Tokens

A hacker has compromised the Wanchain cross-chain bridge on Cardano, making off with approximately $10 million worth of midnight-3:native tokens. The heist occurred in a 24-hour period, during which the token's value plummeted by 27%. According to reports, the exploit targeted only the bridge infrastructure and did not affect the core Midnight protocol.

The Wanchain team has confirmed that their core consensus mechanisms, validators, and infrastructure are still operating normally. However, the security breach does raise concerns about the vulnerability of cross-chain bridges in the crypto ecosystem.