- TornadoCash hacker presents a brand new proposal to revive the DAO’s state of governance.
- The brand new proposal comes after the hacker had obtained 483,000 TORN and exchanged over 379,000 to realize $650,000.
- The cryptocurrency neighborhood is cautious of the brand new proposal.
On Might 22, the TornadoCash hacker deployed a brand new proposal that can seemingly restore the DAO’s state of Governance. In accordance with Twitter person @0xdface, everybody will know the outcomes on Might 26, 2023, 11:53:38 GMT, “plus doubtlessly 6 hours delay if some final minute modifications in lead happen.” On the time of writing, there are over 500,000 votes in favor of the proposal.
Nevertheless, the cryptocurrency neighborhood is cautious of the proposal. Some have posited that the proposal could also be a ploy to pump TORN in order that the hacker may dump extra tokens at a greater value. @0xdface themselves introduced that the proposal may both be a type of trolling or “an costly however not disastrous lesson in Governance safety.”
I imply observe that we don’t also have a alternative with reference to this proposal however it’s nonetheless vital nonetheless.
Beforehand, Tornadosaurus-Hex additionally tried to revive the DAO after the assault. Hex proposed an answer to instantly revert the modifications that the attacker made to the contract. Nevertheless, Hex warned that whoever proposes the answer dangers their TORN changing into rugged, but when executed accurately, it may doubtlessly save the protocol.
On Might 20, a malicious person attacked the TornadoCash governance by way of a malicious proposal. The proposal granted the attacker 1.2M votes in comparison with the 700,000 authentic votes within the DAO. Afterward, the attacker obtained 483,000 TORN, deposited 6,000 TORN into Bitrue, offered 379,300 TORN, and exchanged it for 375 ETH price $680,000 on the time.
The attacker allegedly snuck in an additional operate after they created their malicious proposal. The proposal used the identical logic as a earlier proposal that voters authorized, and as soon as the brand new proposal was authorized by voters, the assault used the emergencyStop operate to replace the proposal logic with a purpose to grant themselves the faux votes.