Midnight Network / NIGHT Token
Summary
Midnight Network is a privacy-focused blockchain launched as a partner chain to Cardano, developed by Shielded Technologies (an IOG spinout) and governed by the Midnight Foundation. The project uses zero-knowledge proofs and a 'rational privacy' model to offer selective disclosure rather than full anonymity, targeting enterprise and regulated use cases. The network launched its federated mainnet in March 2026 with institutional validators including Google Cloud and Vodafone, but its NIGHT token suffered severe post-launch volatility and was affected by a third-party bridge exploit in July 2026 that drained approximately 515 million tokens.
Connected Entities
1 entities- + 2 more
Timeline(12 events)
2023-03-27
IOG announces Eran Barak (former Symphony COO) as CEO of the Midnight project, formally introducing the project's leadership team.
IOHK Blog2023-05-03
Anthony Day, former Deloitte blockchain leader, joins Midnight as go-to-market lead.
IOHK Blog2025-05-13
Midnight Foundation formally launches as an independent non-profit to oversee ecosystem growth and guide decentralization.
PRNewswire2025-06-23
Midnight Network publishes NIGHT tokenomics and announces the Glacier Drop multi-chain airdrop mechanism covering eight blockchain ecosystems.
CoinDesk2025-08-06
Cardano's Midnight begins the NIGHT Glacier Drop airdrop distribution across eight chains.
CoinDesk2025-12-04
Midnight TGE (Token Generation Event) announced; NIGHT token listed on December 9, 2025 with approximately 16.6 billion tokens in immediate circulation.
CryptoTimes2026-01-07
NIGHT token has declined approximately 83% from its December peak to approximately $0.07, driven by airdrop sell pressure and high circulating supply.
CryptoTimes2026-03-31
Midnight federated mainnet launches with nine validator partners including Google Cloud, Pairpoint by Vodafone, Worldpay, MoneyGram, Bullish, eToro, AlphaTON Capital, Blockdaemon, and Shielded Technologies.
Yellow.com2026-07-21
A vulnerability in the Wanchain cross-chain bridge is exploited; approximately 515 million NIGHT tokens (worth approximately $13 million) are drained from bridge custody reserves. The Midnight core protocol is not compromised. The NIGHT price falls to an all-time low of approximately $0.015.
CoinDesk2026-07-22
Seven major exchanges (Binance, OKX, Kraken, KuCoin, Bybit, Gate, MEXC) freeze stolen NIGHT tokens. Charles Hoskinson calls for an industry-wide overhaul of bridge security practices. NIGHT token rebounds approximately 19% within 24 hours.
CryptoNewsDecision Log
- #1publish⛓ pending8/21/2026, 5:18:07 PMhash: HDdmybPMD1kmQp2p1q2nhbWGWXYjYtDoesKYbcJ3dfkx
20 of 25 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/21/2026, 5:17:57 PM
last updated: 8/21/2026, 10:13:07 PM
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