Tornado Cash’s TORN Token Surges 10% Amidst Proposal to Reverse Recent Attack

The operations, funds, and future plans of privacy-focused crypto mixer Twister Money have been compromised over the weekend when an unidentified attacker or group gained management of the DAO accountable for its administration.

Through the incident, the attacker launched a malicious proposal containing hidden code that allowed them to generate fraudulent votes. These votes can now be utilized to affect sure facets of Twister Money, together with the dealing with of torn (TORN) tokens saved in the principle governance contract or the withdrawal of locked torn tokens.

Following this assault, the worth of TORN plummeted by over 40%. Nevertheless, there have been some updates from the attackers, which despatched the worth of TORN up by 10%.

Twister Money attackers put forth a proposal

The Twister Money token (TORN) has skilled a ten% enhance following the submission of a proposal by a pockets handle related to a current assault on the decentralized autonomous group’s (DAO) governance state. The proposal goals to reverse the malicious alterations made throughout the assault.

In accordance with person Tornadosaurus-Hex’s message in the neighborhood discussion board, the attacker is most probably to execute the assault because the attacker has posted a brand new proposal to revive governance.

Tornadosaurus-Hex acknowledged that the attacker is planning to revert the TORN tokens they acquired, which granted them a good portion of the governance votes, again to zero. Primarily based on the attacker’s present holdings of TORN governance tokens, it seems seemingly that the proposal will move as soon as the voting interval concludes on Could 26. 

Following these updates, the worth of TORN spiked by 10% and is at present buying and selling at $4.77, in accordance with CoinGecko knowledge. The worth went to a 24-hour excessive of $4.92 earlier than falling to its present value. TORN is down by 24% within the final seven days. The token was buying and selling at a excessive of $7.16 on Could 20, 2023. Nevertheless, the current assault has affected the worth, which has plummeted onerous.