Tornado Cash Token Holders Vote in Favor Reclaiming Governance
Tornado Cash governance token holders will soon regain control over the protocol’s operation in response to an unanticipated request made by the attacker. With this newfound influence, the group has a chance to work on mending the protocol and making it safer for everyone.
The proposal to restore authority to the initial holders of Tornado Cash governance tokens was adopted on May 26. 517 thousand votes were cast in support of the initiative, with no votes against. While this resolution did result in the theft of some governance tokens, it thankfully had no effect on the protocol itself.
Community Amused Over Proposal
A hacker managed to take over the protocol’s decision-making system and get almost 1.2 million votes for a fake proposal. They used this overwhelming majority of votes to pass further proposals and seize control of the governance tokens. Their plans were successful, and they eventually came to dominate the organization.
A few hours after the hack, the attacker made a shocking proposal to the Tornado Cash community in an apparent attempt to reclaim control of the cryptocurrency’s administration. This shocking turn of events sparked the curiosity of many, prompting them to look into the identity of the offender.
Martin Lee, a data journalist at the crypto analytics site Nansen, stated that the hacker stole 483,000 Tornado Cash (TORN) tokens. Following this, they carried out a series of swaps in which $890,000 worth of stolen tokens were traded for 485 ETH. Through their craftiness, they were able to escape with 39,000 TORN, or almost $160,000.