- TORN token soars 10%: malicious attack on DAO reversed.
- The attacker had submitted a proposal to reinstate the original governance state.
- The Tornado Cash community anticipates a positive outcome.
In a significant turn of events, the Tornado Cash token (TORN) has experienced a remarkable 10% increase following the submission of a proposal linked to a recent attack on the decentralized autonomous organization’s (DAO) governance state. The proposal seeks to undo the malicious changes inflicted by an unidentified attacker.
A prominent Tornado Cash community forum user, Tornadosaurus-Hex, shared that the attacker had submitted a proposal to reinstate the original governance state. Encouragingly, there is a high likelihood that the proposal will pass when voting concludes on May 26th, given the attacker’s substantial number of TORN tokens.
https://t.co/IOwRTs7MSz community member Tornadosaurus-Hex said in the forum that the https://t.co/IOwRTs7MSz attacker issued a new proposal to restore governance and is likely to implement it. He used his own TORN as lockedBalance-s in the malicious proposal, and reset it to 0.
— Gwei Research(fomerly 8BTCnews) (@btcinchina) May 22, 2023
The attacker has taken the extraordinary step of reverting the TORN tokens they obtained, which had granted them control over the governance votes, back to zero. This action effectively dismantled the illicit power they had acquired, restoring the governance authority to the rightful token holders within Tornado Cash’s DAO.
Once the proposal successfully passes, it will mark removing the malicious code the attacker integrated into the protocol. This insidious code had enabled the theft of voting power from innocent participants, undermining the principles of decentralized governance. The restored governance structure will empower TORN token holders to shape Tornado Cash’s future collectively.
The resurgence of TORN token value showcases the market’s optimism surrounding the proposal’s potential success. Investors and stakeholders eagerly await the resolution of this unexpected attack, which aims to restore trust and integrity within the Tornado Cash community.
As the voting deadline approaches, the Tornado Cash community remains cautiously optimistic, anticipating a positive outcome that will pave the way for a more robust and more secure governance framework. With the impending restoration of token holder influence, Tornado Cash is poised to continue its mission of revolutionizing decentralized finance while fortifying its commitment to transparency and fairness.