Tornado Cash Attacker Proposes To Give Back Control – Crypto News – Crypto News
Connect with us
tornado_cash tornado_cash

Technology

Tornado Cash Attacker Proposes To Give Back Control – Crypto News

Published

3 years ago

on

TORN price recovered as much as 10% after Tornado Cash hacker submitted a new proposal to restore the decentralized autonomous organization’s control. A user on Tornado Cash forum wrote that there is a good chance that the hacker is going to execute the proposal.

The attacker is proposing to revert back the TORN governance tokens that they gave themselves to hack Tornado Cash back to zero.

Will Tornado Cash be restored?

The proposal will pass when voting closes on May 26, given the attacker’s massive holdings of TORN governance tokens. It’s unclear when the action will be executed. If the proposal passes on May 26 that the hacker integrated into Tornado Cash that enabled them to steal voting powers to control the DAO, will be reverted back to the token holders like before.

Users are still skeptical about the seriousness of the hacker submitting this proposal. Some suggested that hackers might just be trying to pump the token’s price by putting out such news.

TORN price down after surging briefly

Tornado Cash token surged as much as 10% on the news of a new proposal by the attackers. However, the price of the token plummeted again shortly after. At the time of writing, TORN is trading at just above $2.5, down nearly 3% in the last hour. TORN price had stumbled as much as 50% yesterday after the hack.

A few crypto exchanges including Binance suspended TORN deposits as a precautionary measure after the news of the hack on May 21.

Jai Pratap is a Crypto and Blockchain enthusiast with over three years of working experience with different major media houses. His current role at CoinGape includes creating high-impact web stories, covering breaking news, and writing editorials. When not working, you’ll find him reading Russian literature or watching some Swedish movie.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending