Cardano founder Charles Hoskinson issued a statement following a security incident in the Midnight ecosystem that led to a sharp drop in price. $NIGHT token. Hoskinson said the attack was based on the Midnight Protocol and $NIGHT Rather than the smart contract on Cardano, the problem occurred in the third-party bridge infrastructure.
“Midnight itself was not hacked,” Hoskinson said. $NIGHTCardano’s smart contract was not hacked. It was a third party bridge that was hacked. ”
Hoskinson said that initial findings indicate that the incident is entirely isolated to OneChain’s infrastructure, noting that the system has four core components (on-chain and off-chain) running on Cardano and the BNB chain. He emphasized the need for a comprehensive audit to determine which components were affected and how the vulnerabilities were exploited.
Mr Hoskinson said he was waiting for an explanation from the One Chain team. “The questions have to be answered and the audit has to be carried out. It will reveal the truth about why this happened, who is to blame, what the losses are and how the damages will be remedied.”
The Cardano founder also warned that similar attacks could become more frequent in the future due to advances in artificial intelligence technology. Hoskinson pointed out that AI is making great strides in the field of information security and can find and fix vulnerabilities in systems much faster than humans.
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Hoskinson said he has been in the crypto sector for 15 years and said the sector is starting to become desensitized to such events due to constant attacks and bridge security issues. Mr Hoskinson said the situation seriously undermined consumer confidence and argued that next-generation financial infrastructure was needed.
According to Hoskinson, $NIGHT The project aims to combine the regulatory mechanisms, insurance products, and asset recovery capabilities of traditional financial systems with the capabilities of cryptocurrencies, such as personal custody and self-sovereign identity. Hoskinson said the model aims to give users back control over how their money works.
Mr Hoskinson said: $NIGHT The token has started to recover after the plunge, indicating that the Midnight ecosystem has overcome its first major crisis. Mr Hoskinson commented:$NIGHT I experienced my first big event and became even stronger. Midnight begins to recover and passes her first big test. ”
*This is not investment advice.
