The price of TORN, the governance token of the crypto mixer Tornado Cash, experienced a significant rebound, following indications that the hackers responsible for a recent attack on the protocol may be willing to reverse the attack. A user named Tornadosaurus-Hex posted a message on Tornado Cash’s governance forum stating that the attacker had presented a proposal to restore the state of governance. The user shared a link to the original on-chain proposal made by the alleged attacker and expressed optimism regarding its execution. This news led to a price increase in TORN, rising from a low of $3.49 on Sunday to $4.72 at the time of writing on Monday.
Despite this strong recovery from the low point, the price of TORN remains down by approximately 36% from its pre-attack high of $7.40 on May 20. The attack on Tornado Cash occurred on May 20, when an unidentified attacker or a group of attackers took control of the decentralized autonomous organization (DAO) responsible for managing the operations and funds of Tornado Cash. They achieved this by introducing a malicious proposal that included a hidden code function, thus enabling them to generate fake votes within the DAO. Through these fraudulent votes, they gained control over various aspects, including the TORN tokens held in the governance contract.