Crypto mixer Tornado Cash’s governance token TORN price sees a strong recovery on the back of hackers Recent Attack on Protocol appeared to offer to repel the attack.
according to a Post Posted on Tornado Cash’s governance forum by a user named Tornadosaurus-Hex, the attacker posted “a new proposal to restore governance status” on Tornado Cash.
“I think there’s a good chance he’s going to execute it,” the user added in the post, where he also shared a link to the original on-chain Proposal by the alleged assailant.
The revelation that the attacker may be planning to restore the protocol back to its state before the attack sent the price of Tornado Cash’s governance token from a low of $3.49 on Sunday to $4.72 at the time of writing on Monday.
Despite a strong recovery from the lows, however, TORN price remains down about 36% from the high of $7.40 seen just before the May 20 attack.
Tornado Cash was attacked on May 20 by an unknown attacker or group of attackers.
The attacker(s) effectively took control of the Decentralized Autonomous Organization (DAO) that manages the operations and funds of Tornado Cash, by creating a malicious proposal that allowed the code function within the DAO to allow them to fake votes. Hides.
With these votes, they gained control over aspects such as the TORN tokens held in the governance contract.