The Tornado Cash Token (TORN) has seen a jump of 10% after the submission of a manifesto by a wallet address that is linked to the current attack on the decentralized autonomous organizations (DAO) governance, which in turn seeks to reverse the mala fide changes.
Tornadosaurus-Hex, a user of the Tornado Cash Community forum wrote, “The attacker posted a new proposal to restore the state of governance.” He further added that there was a “pretty good chance” of the attacker executing it.
Moreover, he added that the attacker is trying to retrogress the TORN tokens that provides them with a controlling share of governance votes. This move is being viewed as a major setback that could bring their token holding back to zero. The proposal seems to have gained momentum and is touted to pass when voting closes on May 26. However, the execution of the same is still under wraps.
The passing of this proposal will signify the removal of the mala fide code that the attacker amalgamated into the protocol, leading to them stealing voting power from others. The governance of Tornado Cash’s DAO is deemed to be handed back to the token holders, which in turn resulted in the 10% hike of TORN.
Few members of the TORN community have labeled it as a ‘Gigatroll’ being used to devitalize the price of the token to multiply their holding at a lower price.
An unidentified hacker or a group of hackers maliciously took control over DAO handling operations, funds as well as plans of privacy-focused crypto mixer Tornado Cash on Saturday, May 20. The attacker ushered in a deceitful proposal, implanting a code function that generated counterfeit votes, thereby granting them authority over certain aspects of Tornado Cash, including governance contract-held torn (TORN) tokens and the withdrawal of locked torn tokens.