Tornado Cash attacker to potentially giveback governance control, proposal reveals

Just a day after an attacker stimulated community-wide panic after pirating the Tornado Cash governance, a new proposition mean the possible remediation of the state of governance.On May 21, the passing of a harmful proposal permitted an attacker to get complete control over Tornado Cashs governance. With total control over the governance of the decentralized crypto mixer, the assaulter was in a position to inflict enormous losses considering they might withdraw all of the locked votes, drain all of the tokens in the governance contract and brick the router.While the story unfolded, neighborhood member Tornadosaurus-Hex or Mr. Tornadosaurus Hex, took proactive actions to decrease the potential damages by releasing a subsequent proposal requesting all members to withdraw all funds locked in governance, as shown below.Tornado Cash neighborhood members proposal for acquiring control from assailant. Source:  forums.tornadocash.com munityHowever, Mr. Tornadosaurus Hex (Hex) doubted about the effectiveness of the new proposal thinking about the opponents grip over the mixers governance. A few hours into the hack, to everyones surprise, the assailant surprisingly connected to the Tornado Cash neighborhood with a new proposition, meaning their intent to return the governance control. Tornado Cash aggressors proposal to return governance control. Source:  forums.tornadocash.com munityAs shown above, Hex interacted the attackers strategy to the neighborhood specifying that:” The opponent published a new proposal to restore the state of Governance. I believe that there is a great chance hes going to execute it.”Hex more mentioned that while the community has no other choice aside from adhering to the enemys chosen approach of returning the governance control, his due diligence with regard to verifying storage designs checks out.Mr. Tornadosaurus Hex confirmed the slot matching. Source:  orums.tornadocash.com munityWhile numerous community members revealed optimism toward the assailants supposed change of mind, others hypothesize it was a relocate to pump the TORN tokens rate before cashing out.Related: Allbridge offers bounty to exploiter who took$ 573K in flash loan attackOn the brilliant side, the crypto community has experienced a sharp decline in the overall hacks in the very first quarter of 2023. Graph revealing hacks and exploits from Q1 2022- Q1 2023. Source: TRM Labs.However, history recommends that crypto users should not get complacent as 2022 experienced a spike in crypto hacks quickly after recording a slow phase.Magazine: Moral responsibility: Can blockchain actually enhance rely on AI?

Other Questions People Ask

What led to the Tornado Cash attacker potentially giving back governance control?

The Tornado Cash attacker gained complete control over the governance after a harmful proposal was passed on May 21. This situation caused panic within the community as the attacker could drain funds and disrupt operations. However, the attacker later proposed to return governance control, surprising many and suggesting a possible change of heart.

How did the Tornado Cash community respond to the attacker's proposal to give back governance control?

In response to the attack, community member Tornadosaurus Hex took proactive measures by proposing that all members withdraw their locked funds from governance. Despite initial skepticism about the effectiveness of this strategy, Hex communicated the attacker's new proposal to restore governance control to the community. This led to a mix of optimism and caution among members regarding the attacker's intentions.

What concerns do community members have about the Tornado Cash attacker's intentions?

While some community members are hopeful about the attacker's proposal to return governance control, others suspect it may be a tactic to inflate TORN token prices before cashing out. This skepticism stems from the attacker's previous actions, which caused significant panic and potential losses. The community remains vigilant, weighing the risks of trusting an attacker who previously exploited their system.

What actions did Tornadosaurus Hex take following the Tornado Cash governance attack?

Tornadosaurus Hex acted quickly by proposing that community members withdraw all funds locked in governance to mitigate potential losses. He also communicated with the attacker and shared their proposal to restore governance control with the community. Hex's efforts reflect a proactive approach to managing the crisis and protecting community assets amidst uncertainty.

What does the recent Tornado Cash incident reveal about governance in decentralized finance?

The Tornado Cash incident highlights vulnerabilities in decentralized governance structures, where malicious proposals can lead to significant control shifts. It underscores the importance of robust security measures and community vigilance in protecting assets. Additionally, it raises questions about trust and accountability within decentralized finance ecosystems, especially when dealing with attackers who may seek to manipulate governance for personal gain.