Cardano founder says NIGHT fundamentals remain solid after bridge hack

Cardano founder Charles Hoskinson said NIGHT’s long-term fundamentals remain solid despite the Midnight bridge hack, The Crypto Basic reported. Hoskinson said NIGHT has a large development roadmap in place and that its ecosystem stands out for its technology, commercialization strategy, and leadership. He added the earlier hack was only a stress test and said the token absorbed the liquidity shock well, demonstrating resilience. Earlier, Cardano’s bridge on cross-chain infrastructure Wanchain was exposed to a hacking attack, leading to the theft of about 515 million NIGHT worth $10 million and sending the token down about 30%. NIGHT is a project Cardano has presented as a core next-generation growth driver for its ecosystem, promoting it as a sidechain that combines privacy and regulatory compliance. It aims to improve scalability, a longstanding weak point for Cardano, and expand its dApp ecosystem.