- TornadoCash hacker presents a brand new proposal to revive the governance state of the DAO.
- The brand new proposal comes after the hacker obtained 483,000 TORN and traded over 379,000 to earn $650,000.
- The cryptocurrency neighborhood is cautious of the brand new proposal.
On Could 22, hacker TornadoCash rolled out a brand new proposal that can apparently restore the governance state of the DAO. In response to Twitter consumer @0xdface, everybody will know the outcomes on Could 26, 2023, 11:53:38 GMT, “plus doubtlessly 6 hours delay if final minute modifications occur”. 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 speculated that the proposal could possibly be a ploy to pump TORN so the hacker can dump extra tokens at a greater value. @0xdface themselves offered that the proposal may both be a type of trolling or “an costly however not disastrous lesson in governance safety”.
I imply word that we do not also have a selection with regards to this proposal, however it will be significant nonetheless.
Beforehand, Tornadosaurus-Hex additionally tried to revive the DAO after the assault. Hex provided an answer to instantly undo the modifications the attacker made to the contract. Nevertheless, Hex warned that whoever comes up with the answer dangers their TORN turning into strong, but when executed appropriately may doubtlessly save the protocol.
On Could 20, a malicious consumer attacked the governance of TornadoCash through a malicious proposal. The proposal granted the striker 1.2 million votes in comparison with the DAO’s authentic 700,000 votes. Subsequently, the attacker obtained 483,000 TORN, deposited 6,000 TORN in Bitrue, bought 379,300 TORN and exchanged it for 375 ETH price $680,000 on the time.
The attacker allegedly launched an extra operate when he created his malicious proposal. The proposal used the identical logic as a earlier proposal accredited by the voters, and as soon as the brand new proposal was accredited by the voters, the assault used the emergencyStop operate to replace the logic of the proposal so as to grant itself the pretend votes.
