Midnight Network / NIGHT Token
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 48 → 53. Problems weighed by who is responsible: concerns that are not fraud −18.8, incidents the subject suffered −6, problems around the subject, caused by others −3.2; legitimacy credit long-running +6, regulated +5; a recent unresolved incident −5; fact-check adjustments (−10) now shown as page reliability, not in the score. 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 →Summary
Midnight Network is a privacy-focused blockchain built as a partner chain to Cardano. It came out of Input Output Global (IOG), is developed by Shielded Technologies (an IOG spinout), and is overseen by the Cayman Islands-based Midnight Foundation. It uses zero-knowledge proofs and a 'rational privacy' model of selective disclosure aimed at regulated use cases, with a dual-token design: NIGHT, which is public and tradable, and DUST, which is shielded and non-tradable. A federated mainnet with institutional validators such as Google Cloud and Vodafone launched in March 2026. The NIGHT token fell 83-90% after its December 2025 launch, and in July 2026 a third-party Wanchain bridge exploit drained about 515 million NIGHT; Midnight's core protocol was not compromised.
Connected Entities
14 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%)
- BNB Chain Bridge→mentioned with→Binance(70%)
- Midnight (NIGHT Token)→mentioned with→Cardano(80%)
- BNB Chain Bridge→mentioned with→Ethereum(80%)
- + 34 more
Timeline(14 events)
March 2023
IOG announces Eran Barak, former COO of Symphony, as CEO of the Midnight project.
IOHK BlogMay 2023
Anthony Day, former Deloitte blockchain leader, joins Midnight to lead go-to-market strategy.
IOHK BlogMay 2025
The Midnight Foundation formally launches as an independent non-profit to oversee ecosystem growth and guide decentralization.
PRNewswireJune 2025
Midnight publishes NIGHT tokenomics and announces the Glacier Drop multi-chain airdrop across eight blockchain ecosystems.
CoinDeskJuly 2025
OpenZeppelin announces a partnership with Midnight to develop audited Compact smart contract libraries.
The Crypto BasicDecember 2025
NIGHT starts trading at 10:00 UTC on major exchanges, with about 16.6 billion tokens in circulation, and peaks at about $0.45.
CryptoTimes; Midnight TGE GuideDecember 2025
The Glacier Drop thawing schedule begins, and Midnight opens redemptions for more than 4.5 billion NIGHT from Phases 1 and 2.
HackerNoonJanuary 2026
NIGHT is down about 83% from its December peak, at about $0.07, driven by airdrop selling and high circulating supply.
CryptoTimesMarch 2026
Midnight genesis block created as mainnet preparations are finalized.
Midnight Network OfficialMarch 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.
Yellow.com; Midnight Network BlogJuly 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.
CoinDesk; CryptoTimes; BitcoinistJuly 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.
CryptoNews; CoinDeskDecision Log
- 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 (5 decisions). 54 of 60 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 8/21/2026, 5:17:57 PM
last updated: 10/10/2026, 6:47:29 PM
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