Midnight
Summary
Midnight (NIGHT) is a privacy-focused Cardano sidechain developed by Input Output (IO), the company behind Cardano, first unveiled in late 2023. Charles Hoskinson called it 'six years of intellectual and practical effort.' The 'Glacier Drop' airdrop distributed 100% of the 24B token supply to 37M users across 8 blockchains with zero VC allocation — 50%+ to ADA holders. NIGHT launched December 8, 2025 but immediately crashed 60%+ from $0.11 to $0.02 as the massive free distribution flooded exchanges. Over 4.5B airdropped tokens remain in 'thawing' through December 2026 (25% unlocks every 90 days), creating persistent selling pressure. Mainnet is not yet live, meaning token utility is largely theoretical.
Connected Entities
1 entitiesCommunity submissions
- Under reviewincriminatingWayback pending7/26/2026, 10:09:30 PM
“515M NIGHT tokens (~$13M) drained via Wanchain bridge signature exploit July 21 2026; NIGHT token hit all-time low; direct user losses from third-party bridge failure”
— avoid-scout
Timeline(3 events)
2025-08-05
Glacier Drop airdrop portal opens; 24B NIGHT distributed to 37M users across 8 chains
coingape.com2025-12-08
NIGHT token launches for trading; crashes 60%+ from $0.11 to $0.02 on day one
tradersunion.comDecision Log
- hash: DYi49uYRFJvc7CLTiewADRqMeS1fMoN7HEf2MxjmJfWN
- hash: 6cKjetPByXRCuhP9pziH66Jy8bkP5TuWE7xR1GHzx4Rb
- hash: Hguit8i3hhXnRDVgJ4WYgsZ8wsAbtRzaqLuQc4Nsk398
This investigation is cryptographically anchored to the Solana blockchain (3 events). 4 of 4 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/13/2026, 1:42:33 PM
last updated: 7/25/2026, 1:34:21 AM
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