Midnight Network / NIGHT Token
Last changed 2026-10-27 · Fact-check review — Fact-check review (verdict: approve): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -18.8 |
| Incidents it suffered (e.g. hacks) | -6 |
| Problems around it, caused by others | -3.2 |
| Long-running | +6 |
| Regulated | +5 |
| Recent unresolved incident | -5 |
| Sum | 43 |
Score: 53/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-10-27 · 9 of 10 claims confirmed · 1 need better sources
anchored·28eh9A…9K9NSummary
Midnight Network is a privacy-focused blockchain built as a partner chain to Cardano, originating at Input Output Global (IOG), developed by Shielded Technologies and overseen by the Cayman Islands-based Midnight Foundation. It uses zero-knowledge proofs and a 'rational privacy' model with a public NIGHT token and a shielded, non-tradable DUST resource. A federated mainnet launched in March 2026; NIGHT fell 83-90% after its December 2025 launch, and in July 2026 a third-party Wanchain bridge exploit drained about 515 million NIGHT without compromising Midnight's core protocol.
Connected Entities
15 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Monero→mentioned with→Binance(70%)
- Monero→mentioned with→Kraken(70%)
- KuCoin→mentioned with→Bitcoin(70%)
- Monero→mentioned with→Bitcoin(60%)
- KuCoin→mentioned with→Ethereum(60%)
- Binance→mentioned with→Ethereum(65%)
- Midnight→mentioned with→Railgun(70%)
- BNB Chain Bridge→mentioned with→Binance(70%)
- Midnight (NIGHT Token)→mentioned with→Cardano(80%)
- + 38 more
Connected Through
13 shared actors · 589 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- ♦Bitcointoken
- □Binanceorganization
- □Solanaorganization
1 submission awaiting moderator review.
Timeline(14 events)
March 2023
IOG announces Eran Barak, former COO of Symphony, as CEO of the Midnight project.
Former Symphony COO joins IOG as CEO of Midnight — IOHK BlogMay 2023
Anthony Day, former Deloitte blockchain leader, joins Midnight to lead go-to-market strategy.
Former Deloitte Blockchain Leader Joins Midnight — IOHK BlogNovember 2023
Midnight privacy sidechain first unveiled by IO (Cardano parent company), per one source.
CryptoSlate: Midnight HypeMay 2025
The Midnight Foundation formally launches as an independent non-profit to oversee ecosystem growth and guide decentralization.
Midnight Foundation Launches — PRNewswireJune 2025
Midnight publishes NIGHT tokenomics and announces the Glacier Drop multi-chain airdrop across eight blockchain ecosystems.
Midnight Network Unveils NIGHT Tokenomics, Glacier Drop — CoinDeskJuly 2025
OpenZeppelin announces a partnership with Midnight to develop audited Compact smart contract libraries.
Cardano Founder Welcomes as OpenZeppelin Unveils Compact Contracts for Midnight — The Crypto BasicAugust 2025
Glacier Drop airdrop begins (portal opening reported as August 5, 2025 by CoinGape and August 6, 2025 by CoinDesk); NIGHT distributed across eight chains.
CoinGape: Midnight Airdrop LiveDecember 2025
The Glacier Drop thawing schedule begins, and Midnight opens redemptions for more than 4.5 billion NIGHT from Phases 1 and 2.
Midnight Opens Redemptions for 4.5B+ NIGHT Tokens — HackerNoonDecember 2025
NIGHT begins trading (December 8 per TradersUnion, December 9 per CryptoTimes); one report says it fell 60%+ from $0.11 to $0.02 on day one.
TradersUnion: NIGHT PlungesJanuary 2026
NIGHT is down about 83% from its December peak, at about $0.07, driven by airdrop selling and high circulating supply.
Midnight Network NIGHT Price 83% Crash Post-Launch — CryptoTimesMarch 2026
Midnight genesis block created as mainnet preparations are finalized.
Midnight Network — Official SiteMarch 2026
Midnight's federated mainnet (Kukolu phase) launches with nine validator partners: Google Cloud, Pairpoint by Vodafone, Worldpay, MoneyGram, Bullish, eToro, AlphaTON Capital, Blockdaemon and Shielded Technologies. Another source dates the launch March 30, 2026.
Midnight Mainnet Debuts With 9 Partners Including Google Cloud — Yellow.comJuly 2026
The Wanchain-operated Cardano-to-BNB Chain bridge is exploited through a non-injective signed-message encoding flaw in its TreasuryCheck validator. About 515 million NIGHT (about $10–13 million) are drained in four transactions within eight minutes, NIGHT falls 30–43% to a record low, and Wanchain takes the bridge offline. The Midnight Foundation confirms its core protocol is unaffected.
Midnight's NIGHT Token Rebounds After Wanchain Bridge Hack — CoinDeskJuly 2026
Seven major exchanges (Binance, OKX, Kraken, KuCoin, Bybit, Gate, MEXC) block the stolen NIGHT. The token rebounds about 19% within 24 hours to around $0.022, and Charles Hoskinson calls for an industry-wide overhaul of bridge security.
515 Million NIGHT Exploit: 7 Exchanges Lock Down Stolen Funds — CryptoNewsDecision Log
- slot 462052743 · hash CFpEoicYpybvqpxBbFAJvs896GNjm3yKzUnD5MDB5uP
- slot 462052738 · hash HsssQUk2U4bsi12MhQNskEHdgkia3Y1ktBovvueyG58F
- slot 455367629 · hash 2N2oikuzkxAkdU3h9rSJVy3P1mVp6ihWFTPDhLZixBiq
- slot 445506499 · hash 3Ci4quRB41UZgAtztUPJLHWrK7nQV8wh1KUnTBqa1JJ7
- slot 443511644 · hash 9xnEhBG9ZKKqfi52wNXZyPyeXFPNhWwci8g7KvqiNww1
- slot 443511632 · hash 8eGaoKdx8UjFFuCNqhprnGLsMgge2fZCkDYPUmg2r5Gj
- slot 443509789 · hash HDdmybPMD1kmQp2p1q2nhbWGWXYjYtDoesKYbcJ3dfkx
This investigation is cryptographically anchored to the Solana blockchain (7 decisions). 61 of 67 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 8/21/2026, 5:17:57 PM
last updated: 10/27/2026, 11:24:56 AM
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